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Corporacií³n Lindley swings to loss in Q4

Corporación Lindley SA said its fourth-quarter normalized net income was a loss of 6 Peruvian céntimos per share, compared with 1 céntimos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 36.6 million soles, compared with income of 6.7 million soles in the prior-year period.

The normalized profit margin declined to negative 6.2% from 1.1% in the year-earlier period.

Total revenue climbed 7.1% on an annual basis to 669.6 million soles from 625.0 million soles, and total operating expenses rose on an annual basis to 561.7 million soles from 542.7 million soles.

Reported net income came to a loss of 69.7 million soles, or a loss of 11 céntimos per share, compared to income of 41.2 million soles, or 6 céntimos per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 8 céntimos per share, compared with a loss of 3 céntimos per share in the prior year.

Normalized net income was a loss of 49.3 million soles, compared with a loss of 18.0 million soles in the prior year.

Full-year total revenue grew 9.9% from the prior-year period to 2.45 billion soles from 2.23 billion soles, and total operating expenses grew 5.3% year over year to 2.18 billion soles from 2.07 billion soles.

The company said reported net income totaled a loss of 88.5 million soles, or a loss of 14 céntimos per share, in the full year, compared with income of 2.8 million soles, or 0 céntimos per share, the prior year.

As of March 14, US$1 was equivalent to 3.38 soles.