Vestel Beyaz Esya Sanayi ve Ticaret AS said its normalized net income for the first quarter was a loss of 570,630 lira, compared with income of 30.5 million lira in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin fell to negative 0.1% from 6.0% in the year-earlier period.
Total revenue declined 7.0% on an annual basis to 477.4 million lira from 513.0 million lira, and total operating expenses declined year over year to 441.5 million lira from 459.8 million lira.
Reported net income fell 98.6% from the prior-year period to 601,000 lira, or 0 kurus per share, from 41.8 million lira, or 22 kurus per share.
As of April 21, US$1 was equivalent to 2.68 Turkish lira.
