Bisas Tekstil Sanayi ve Ticaret AS said its first-quarter normalized net income amounted to a loss of 686,580 lira, compared with income of 32,410 lira in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue decreased 16.6% on an annual basis to 2.3 million lira from 2.7 million lira, and total operating expenses climbed 25.8% year over year to 3.3 million lira from 2.6 million lira.
Reported net income totaled a loss of 884,540 lira, or a loss of 4 kurus per share, compared to income of 21,840 lira, or 0 kurus per share, in the year-earlier period.
As of April 29, US$1 was equivalent to 2.65 Turkish lira.
