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Latest Saras SpA ADR Stock News | OTC:SAAFY | Benzinga

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SAAFY

Saras Posts Wider Q2 Net Loss

Saras Swings To 2012 Net Loss

Saras SpA ADR

Saras SpA (OTC: <a class="ticker" href="/stock/saafy#OTC">SAAFY</a>) posted a wider net loss in the second quarter. 

Saras posted a quarterly net loss of 199.5 million euros ($266.5 million), versus a year-ago net loss of EUR131.8 million. Its quarterly adjusted net loss widened to EUR46.3 million from EUR29.3 million.

Saras's revenue rose to EUR2.77 billion from EUR2.67 billion.


Italy's Saras SpA (OTC: <a class="ticker" href="/stock/saafy#OTC">SAAFY</a>) posted a net loss in 2012.

Saras posted a 2012 loss of 90.1 million euros ($116.5 million), versus a year-ago net profit of EUR58.8 million. Its adjusted net loss came in at EUR35.2 million, versus a year-earlier net loss of EUR17.7 million.

Its revenue rose 8% to EUR11.9 billion, while earnings before interest, tax, depreciation and amortization came in at EUR173.6 million, versus EUR394.3 million in 2011.


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