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Zarka Educational & Investment Q1 profit falls YOY

Zarka Educational & Investment Co. said its first-quarter normalized net income was 3 Jordanian fils per share, a decrease of 34.8% from 5 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 535,270 dinars, a decline of 34.7% from 820,300 dinars in the prior-year period.

The normalized profit margin fell to 10.5% from 14.4% in the year-earlier period.

Total revenue decreased 10.3% year over year to 5.1 million dinars from 5.7 million dinars, and total operating expenses decreased from the prior-year period to 4.3 million dinars from 4.4 million dinars.

Reported net income declined 35.1% year over year to 665,540 dinars, or 4 fils per share, from 1.0 million dinars, or 6 fils per share.

As of April 25, US$1 was equivalent to 71 Jordanian fils.