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Argaman Industries posts Q4 profit

Argaman Industries Ltd. said its fourth-quarter normalized net income amounted to 68,750 shekels.

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

The normalized profit margin was 0.3%.

Total revenue came to 21.7 million shekels, and total operating expenses totaled 21.9 million shekels.

Reported net income totaled a loss of 186,000 shekels, or a loss of 1 agorot per share.

For the year, the company's normalized net income totaled a loss of 14 agorot per share, compared with a loss of 32 agorot per share in the prior year.

Normalized net income was a loss of 2.0 million shekels, compared with a loss of 4.6 million shekels in the prior year.

Full-year total revenue fell 6.8% year over year to 77.9 million shekels from 83.6 million shekels, and total operating expenses decreased 8.4% on an annual basis to 78.0 million shekels from 85.2 million shekels.

The company said reported net income totaled a loss of 3.5 million shekels, or a loss of 24 agorot per share, in the full year, compared with a loss of 6.8 million shekels, or a loss of 47 agorot per share, the prior year.

As of March 30, US$1 was equivalent to 3.78 shekels.