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Silverline Endustri Q3 loss widens YOY

Silverline Endustri ve Ticaret AS said its third-quarter normalized net income amounted to a loss of 3 kurus per share, compared with a loss of 1 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 1.0 million lira, compared with a loss of 313,430 lira in the prior-year period.

The normalized profit margin declined to negative 2.6% from negative 0.8% in the year-earlier period.

Total revenue climbed 4.9% year over year to 39.7 million lira from 37.8 million lira, and total operating expenses increased 10.5% year over year to 40.5 million lira from 36.6 million lira.

Reported net income came to a loss of 1.4 million lira, or a loss of 5 kurus per share, compared to a loss of 523,670 lira, or a loss of 2 kurus per share, in the year-earlier period.

As of Nov. 9, US$1 was equivalent to 3.23 Turkish lira.