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Philadelphia International Educational swings to loss in Q3

Philadelphia International Educational Investment Co. PLC said its normalized net income for the third quarter was a loss of 9,750 dinars, compared with income of 32,180 dinars in the year-earlier period.

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

The normalized profit margin declined to negative 0.3% from 0.9% in the year-earlier period.

Total revenue rose year over year to 3.6 million dinars from 3.6 million dinars, and total operating expenses rose on an annual basis to 3.6 million dinars from 3.5 million dinars.

Reported net income came to a loss of 12,470 dinars, or a loss of 0 fils per share, compared to income of 41,200 dinars, or 0 fils per share, in the year-earlier period.

As of Oct. 17, US$1 was equivalent to 71 Jordanian fils.