Vakko Tekstil Ve Hazir Giyim Sanayi Isletmeleri AS said its normalized net income for the first quarter was a loss of 4 kurus per share, compared with a loss of 3 kurus per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 5.9 million lira, compared with a loss of 4.1 million lira in the year-earlier period.
The normalized profit margin declined to negative 6.0% from negative 4.6% in the year-earlier period.
Total revenue climbed 8.0% on an annual basis to 98.0 million lira from 90.7 million lira, and total operating expenses grew 14.2% year over year to 103.7 million lira from 90.8 million lira.
Reported net income came to a loss of 7.9 million lira, or a loss of 5 kurus per share, compared to a loss of 5.5 million lira, or a loss of 3 kurus per share, in the prior-year period.
As of May 11, US$1 was equivalent to 2.69 Turkish lira.
