Tihama Advertising and Public Relations Co. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 1.01 Saudi Arabian riyals per share, compared with a loss of 1.86 riyals per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.6 million riyals, compared with a loss of 14.0 million riyals in the year-earlier period.
The normalized profit margin increased to 19.5% from negative 52.4% in the year-earlier period.
Total revenue climbed 45.5% year over year to 38.8 million riyals from 26.6 million riyals, and total operating expenses decreased 13.2% on an annual basis to 44.4 million riyals from 51.2 million riyals.
Reported net income came to 11.5 million riyals, or 1.54 riyals per share, compared to a loss of 24.4 million riyals, or a loss of 3.26 riyals per share, in the year-earlier period.
As of Jan. 27, US$1 was equivalent to 3.75 Saudi Arabian riyals.
