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Netas Declines in Istanbul After Reporting 1st-Quarter Loss

May 4 (Bloomberg) -- Netas Telekommunikasyon AS, a maker of telecommunications equipment, fell after reporting a loss in the first quarter from a profit a year earlier.

The shares dropped 3.9 percent to 235.50 liras at the close in Istanbul, taking their weekly slide to 4.3 percent. The stock is up 92 percent this year, compared with a 15 percent rise in Turkey’s ISE National 100 Index.

Netas swung to a 34.5 million-lira ($19.6 million) loss, compared with a 3.2 million-lira profit a year ago.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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