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Altin Yunus í‡esme Turistik Tesisler Q4 loss widens 29.2% YOY

Altin Yunus Çesme Turistik Tesisler AS said its fourth-quarter normalized net income came to a loss of 13 kurus per share, compared with a loss of 10 kurus 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 2.1 million lira, compared with a loss of 1.7 million lira in the prior-year period.

The normalized profit margin declined to negative 63.4% from negative 63.1% in the year-earlier period.

Total revenue rose 28.5% on an annual basis to 3.4 million lira from 2.6 million lira, and total operating expenses grew 24.7% year over year to 6.4 million lira from 5.1 million lira.

Reported net income totaled a loss of 3.0 million lira, or a loss of 18 kurus per share, compared to a loss of 3.0 million lira, or a loss of 18 kurus per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 5 kurus per share, compared with a loss of 3 kurus per share in the prior year.

Normalized net income was a loss of 883,990 lira, compared with a loss of 516,510 lira in the prior year.

Full-year total revenue increased 8.9% from the prior-year period to 26.6 million lira from 24.4 million lira, and total operating expenses increased 8.9% on an annual basis to 26.8 million lira from 24.6 million lira.

The company said reported net income totaled a loss of 1.5 million lira, or a loss of 9 kurus per share, in the full year, compared with a loss of 1.0 million lira, or a loss of 6 kurus per share, the prior year.

As of Feb. 29, US$1 was equivalent to 2.95 Turkish lira.