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Elzay Ready Wear Manufacturing Q3 loss widens YOY

Elzay Ready Wear Manufacturing Co. said its normalized net income for the third quarter amounted to a loss of 121,110 dinars, compared with a loss of 40,990 dinars in the prior-year period.

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

The normalized profit margin dropped to negative 3.5% from negative 1.1% in the year-earlier period.

Total revenue totaled 3.7 million dinars, compared with 3.7 million dinars in the year-earlier period, and total operating expenses increased from the prior-year period to 3.8 million dinars from 3.7 million dinars.

Reported net income came to a loss of 193,780 dinars, or a loss of 2 fils per share, compared to a loss of 65,590 dinars, or a loss of 1 fils per share, in the prior-year period.

As of Oct. 27, US$1 was equivalent to 71 Jordanian fils.