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Ever Shine Tex Q2 loss narrows YOY

PT Ever Shine Tex Tbk said its normalized net income for the second quarter amounted to a loss of $558,190, compared with a loss of $1.1 million in the prior-year period.

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

The normalized profit margin climbed to negative 5.0% from negative 7.8% in the year-earlier period.

Total revenue decreased 16.9% year over year to $11.2 million from $13.4 million, and total operating expenses fell 20.0% on an annual basis to $11.7 million from $14.7 million.

Reported net income came to a loss of $825,260, or a loss of 0 cents per share, compared to a loss of $1.4 million, or a loss of 0 cents per share, in the year-earlier period.