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Empresas Iansa Q2 profit falls YOY

Empresas Iansa SA said its normalized net income for the second quarter came to $1.0 million, a fall of 73.7% from $3.9 million in the year-earlier period.

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

The normalized profit margin fell to 0.8% from 2.7% in the year-earlier period.

Total revenue decreased 6.4% on an annual basis to $132.4 million from $141.5 million, and total operating expenses declined on an annual basis to $130.4 million from $133.9 million.

Reported net income fell 72.8% from the prior-year period to $1.2 million, or 0 cents per share, from $4.4 million, or 0 cents per share.