GOME Posts Q3 Net Loss
China's GOME Electrical Appliances Holdings Ltd (OTC: GMELY) posted a loss in the third quarter.
GOME posted a quarterly net loss of 185.6 million yuan ($29.76 million), versus a year-ago profit of 539 million yuan.
GOME posted a net loss of 686.7 million yuan for the first nine months of the year, versus a year-ago profit of 1.79 billion yuan. Its revenue dropped 18% to 36.06 billion yuan.
GOME's consolidated gross profit margin declined to 15.88% during the nine months, from 18.85% in the year-ago period.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.