Electrical Industries Co. (EIC) reported a net loss after Zakat and tax of SAR 40.2 million for the fiscal year 2019, from a net profit of SAR 7.1 million a year earlier, it said in a bourse filing on Thursday.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 705.89 | 577.56 | (18.2 %) |
| Gross Income | 102.47 | 72.41 | (29.3 %) |
| Operating Income | 29.78 | 3.13 | (89.5 %) |
| Net Income | 7.11 | (40.19) | (665.1 %) |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | 0.63 | (3.57) | (665.1 %) |
The loss is attributed to an 18% decrease in sales, SAR 21.7 million in inventory write-off losses, in addition to increase in financial expenses.
The company’s net loss widened to SAR 32.81 million in Q4 2019 from SAR 10.15 million a year earlier.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 190.41 | 184.08 | (3.3 %) |
| Gross Income | 13.80 | 11.97 | (13.3 %) |
| Operating Income | 0.01 | (6.59) | (73333.3 %) |
| Net Income | (10.14) | (32.81) | (223.4 %) |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | (0.90) | (2.92) | (223.4 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 132.80 | 184.08 | 38.6 % |
| Gross Income | 22.03 | 11.97 | (45.7 %) |
| Operating Income | 7.01 | (6.59) | (194.1 %) |
| Net Income | (1.50) | (32.81) | (2,084.3 %) |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | (0.13) | (2.92) | (2,084.3 %) |
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