NGCO Announces 3Q Net Income of SR 3.59 million

17/10/2012 10:04 AST

National Gypsum Company announces interim financial results for the period ended September 30, 2012:

1.The net income for third quarter amounted to SR 3.59 million compared to SR 4.30 million for the same quarter of prior year, representing an decrease of 16.51% and compared to a net income for the prior quarter of SR 6.62 million representing an decrease of 45.77%

2.The gross profit for the third quarter amounted to SAR 5.14 million compared to 6.45 million for the same quarter of prior year, representing a decrease of 20.31%.

3.The income from operation for the third quarter amounted to SR 3.15 million compared to SR 4.01 million for the same quarter of prior year, representing a decrease of 21.45%.

4.The net income for the nine months amounted to SR 19.59 million compared to SR 25.43 million for the same period of prior year, representing a decrease of 22.97%

5.The earning per share for the nine months period amounted to SR 0.62 compared to SR 0.80 for the same period of prior year.

6.The gross profit for the nine months amounted to SR 22.61 million compared to SR 31.69 million for the same period of prior year, representing a decrease of 28.65%

7.The income from operation for the nine month amounted to SR 16.35 million compared to 24.65 million for the same period of prior year, representing a decrease of 33.67%

8.The reason for decrease in Net Income of this nine months compared to the same nine months of prior year and the third quarter compared to prior quart and the third quarter compared to the third quarter of prior year due to increased competition and increase production and decrease the requests in the markets .

Tadawul