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AquaChile Q1 loss widens YOY

AquaChile SA said its normalized net income for the first quarter was a loss of $4.4 million, compared with a loss of $1.4 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 2.3% from negative 0.6% in the year-earlier period.

Total revenue declined 14.9% year over year to $192.2 million from $225.8 million, and total operating expenses declined 12.4% year over year to $198.9 million from $227.1 million.

Reported net income totaled a loss of $11.5 million, or a loss of 1 cents per share, compared to income of $11.3 million, or 1 cents per share, in the year-earlier period.