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Apply Advanced Mobile Technologies Q1 loss widens 14.9% YOY

Apply Advanced Mobile Technologies Ltd said its normalized net income for the first quarter was a loss of 16 agorot per share, compared with a loss of 16 agorot per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.1 million shekels, compared with a loss of 1.8 million shekels in the year-earlier period.

Reported net income came to a loss of 3.3 million shekels, or a loss of 25 agorot per share, compared to a loss of 2.9 million shekels, or a loss of 25 agorot per share, in the prior-year period.

As of May 26, US$1 was equivalent to 3.83 shekels.