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Ever Shine Tex swings to profit in Q2

PT Ever Shine Tex Tbk said its second-quarter normalized net income came to $271,040, compared with a loss of $559,180 in the year-earlier period.

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

The normalized profit margin rose to 3.0% from negative 5.0% in the year-earlier period.

Total revenue fell 18.2% year over year to $9.1 million from $11.2 million, and total operating expenses declined 28.5% on an annual basis to $8.4 million from $11.7 million.

Reported net income came to $5.0 million, or 0 cents per share, compared to a loss of $826,260, or a loss of 0 cents per share, in the prior-year period.