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ISM Communications swings to loss in Q1

ISM Communications Corp. said its normalized net income for the first quarter amounted to a loss of 6.3 million pesos, compared with income of 11.1 million pesos in the year-earlier period.

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

Reported net income came to a loss of 18.7 million pesos, or a loss of 2 centavos per share, compared to income of 17.8 million pesos, or 2 centavos per share, in the prior-year period.

As of May 17, US$1 was equivalent to 46.39 Philippine pesos.