Saudi Advanced Industries Co. (SAIC) reported a net profit after Zakat and tax of SAR 28.52 million for the fiscal year of 2019, down 23% year-on-year (YoY), compared to SAR 37 million in the same period last year.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 44.54 | 44.39 | (0.3 %) |
| Gross Income | 44.54 | 44.39 | (0.3 %) |
| Operating Income | 37.93 | 34.58 | (8.8 %) |
| Net Income | 36.93 | 28.55 | (22.7 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.62 | 0.48 | (22.7 %) |
The drop was attributed to lower revenue due to a decrease in profits from associates and higher general and administrative expenses (G&A).
The company reported a net loss after Zakat and tax of SAR 3.5 million in Q4 2019, compared to a net profit of SAR 7.13 million a year earlier.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 10.45 | 4.68 | (55.2 %) |
| Gross Income | 10.45 | 4.68 | (55.2 %) |
| Operating Income | 7.49 | 1.61 | (78.5 %) |
| Net Income | 7.13 | (3.45) | (148.4 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.12 | (0.06) | (148.4 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 13.59 | 4.68 | (65.6 %) |
| Gross Income | 13.59 | 4.68 | (65.6 %) |
| Operating Income | 11.79 | 1.61 | (86.3 %) |
| Net Income | 11.50 | (3.45) | (130.0 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.19 | (0.06) | (130.0 %) |
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