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Goodyear Indonesia Q2 loss widens YOY

PT Goodyear Indonesia Tbk said its second-quarter normalized net income amounted to a loss of $528,740, compared with a loss of $50,160 in the prior-year period.

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

The normalized profit margin declined to negative 1.3% from negative 0.1% in the year-earlier period.

Total revenue grew on an annual basis to $39.2 million from $37.4 million, and total operating expenses climbed 6.0% from the prior-year period to $39.5 million from $37.3 million.

Reported net income came to a loss of $645,780, or a loss of 0 cents per share, compared to a loss of $147,900, or a loss of 0 cents per share, in the prior-year period.