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Zarka Educational & Investment Q4 profit falls YOY

Zarka Educational & Investment Co. said its fourth-quarter normalized net income was 7 Jordanian fils per share, a decrease from 8 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million dinars, a decline from 1.2 million dinars in the prior-year period.

The normalized profit margin increased to 19.5% from 18.8% in the year-earlier period.

Total revenue decreased 5.3% year over year to 6.3 million dinars from 6.6 million dinars, and total operating expenses fell 7.5% on an annual basis to 4.3 million dinars from 4.7 million dinars.

Reported net income totaled 1.7 million dinars, or 10 fils per share, compared to 1.7 million dinars, or 10 fils per share, in the year-earlier period.

For the year, the company's normalized net income totaled 15 fils per share, a fall from 16 fils per share in the prior year.

Normalized net income was 2.5 million dinars, a decline from 2.6 million dinars in the prior year.

Full-year total revenue grew on an annual basis to 21.2 million dinars from 20.7 million dinars, and total operating expenses increased on an annual basis to 17.3 million dinars from 16.6 million dinars.

The company said reported net income declined 9.5% on an annual basis to 3.2 million dinars, or 20 fils per share, in the full year, from 3.6 million dinars, or 22 fils per share.

As of Feb. 1, US$1 was equivalent to 71 Jordanian fils.