Karsusan Karadeniz Su Ürünleri Sanayii AS said its second-quarter normalized net income came to a loss of 6 kurus per share, compared with a loss of 23 kurus 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 269,570 lira, compared with a loss of 1.1 million lira in the prior-year period.

The normalized profit margin climbed to negative 33.6% from negative 63.0% in the year-earlier period.

Total revenue fell 56.0% on an annual basis to 801,290 lira from 1.8 million lira, and total operating expenses decreased 61.6% from the prior-year period to 1.1 million lira from 2.9 million lira.

Reported net income totaled a loss of 533,910 lira, or a loss of 11 kurus per share, compared to a loss of 1.7 million lira, or a loss of 35 kurus per share, in the year-earlier period.

As of Aug. 19, US$1 was equivalent to 2.93 Turkish lira.