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Internet Gold - Golden Lines Q1 loss narrows YOY

Internet Gold - Golden Lines Ltd. said its normalized net income for the first quarter came to a loss of 52 agorot per share, compared with a loss of 55 agorot per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 10.0 million shekels, compared with a loss of 10.9 million shekels in the prior-year period.

The normalized profit margin increased to negative 0.4% from negative 0.5% in the year-earlier period.

Total revenue increased 17.7% on an annual basis to 2.56 billion shekels from 2.17 billion shekels, and total operating expenses increased 25.0% on an annual basis to 2.09 billion shekels from 1.67 billion shekels.

Reported net income totaled a loss of 32.0 million shekels, or a loss of 1.67 shekels per share, compared to income of 28.0 million shekels, or 1.42 shekels per share, in the prior-year period.

As of May 26, US$1 was equivalent to 3.83 shekels.