trending Market Intelligence /marketintelligence/en/news-insights/trending/lXz0ibpxg5KeBTK2zVBcRg2 content esgSubNav
In This List

Serial System swings to loss in Q1

Case Study

A Green Lender Adopts a Robust Approach for Assessing Project Finance Credit Risks


MediaTalk | Season 2
Ep.1: Broadcast's Big Year


Global M&A by the Numbers Q4 2023


Investment Banking Essentials: February 21

Serial System swings to loss in Q1

Serial System Ltd. said its normalized net income for the first quarter was a loss of $3.8 million, compared with income of $2.3 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 dropped to negative 1.2% from 0.9% in the year-earlier period.

Total revenue climbed 27.1% year over year to $332.8 million from $261.8 million, and total operating expenses climbed 28.3% from the prior-year period to $330.0 million from $257.1 million.

Reported net income totaled a loss of $6.5 million, or a loss of 1 cents per share, compared to income of $3.0 million, or 0 cents per share, in the prior-year period.