Arab Sea Information Systems Co. reported a net profit after zakat and tax of SAR 127,838 for the first quarter of 2019, around an 86 percent year-on-year (YoY) decrease on lower revenue and higher cost of revenue.
|Gross Income||5.38||3.94||(26.9 %)|
|Operating Income||1.09||0.00||(100.3 %)|
|Net Income||0.90||0.13||(85.8 %)|
|EPS (Riyal)||0.09||0.01||(85.8 %)|
The company turned to profit in Q1, compared to a net loss of SAR 26.5 million in the previous quarter, due to a 25 percent decrease in the cost of revenue.