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Universal Textil Q4 loss narrows YOY

Compañía Universal Textil SA said its normalized net income for the fourth quarter was a loss of 1 Peruvian céntimos per share, compared with a loss of 2 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.9 million soles, compared with a loss of 2.6 million soles in the year-earlier period.

The normalized profit margin climbed to negative 7.4% from negative 13.1% in the year-earlier period.

Total revenue climbed 25.7% on an annual basis to 25.2 million soles from 20.1 million soles, and total operating expenses rose 14.4% from the prior-year period to 27.1 million soles from 23.7 million soles.

Reported net income came to a loss of 2.0 million soles, or a loss of 2 céntimos per share, compared to income of 283,000 soles, or 0 céntimos per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 4 céntimos per share, compared with a loss of 3 céntimos per share in the prior year.

Normalized net income was a loss of 5.6 million soles, compared with a loss of 4.1 million soles in the prior year.

Full-year total revenue grew 16.1% year over year to 94.6 million soles from 81.5 million soles, and total operating expenses rose 17.2% on an annual basis to 101.0 million soles from 86.2 million soles.

The company said reported net income came to a loss of 7.3 million soles, or a loss of 6 céntimos per share, in the full year, compared with a loss of 1.8 million soles, or a loss of 1 céntimos per share, the prior year.

As of March 30, US$1 was equivalent to 3.37 soles.