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Filamentos Industriales Q3 profit falls YOY

Filamentos Industriales SA said its third-quarter normalized net income amounted to 2 Peruvian céntimos per share, a decrease of 51.5% from 4 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 645,000 soles, a decrease of 51.5% from 1.3 million soles in the year-earlier period.

The normalized profit margin declined to 5.1% from 12.7% in the year-earlier period.

Total revenue rose 20.0% on an annual basis to 12.6 million soles from 10.5 million soles, and total operating expenses grew 31.5% on an annual basis to 12.1 million soles from 9.2 million soles.

Reported net income decreased 55.8% from the prior-year period to 941,000 soles, or 3 céntimos per share, from 2.1 million soles, or 6 céntimos per share.

As of Oct. 31, US$1 was equivalent to 3.36 soles.