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Wolford swings to profit in fiscal Q2

Wolford AG said its normalized net income for the fiscal second quarter ended Oct. 31 came to €1.6 million, compared with a loss of €3,750 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 3.5% from negative 0.0% in the year-earlier period.

Total revenue climbed 11.1% on an annual basis to €45.3 million from €40.7 million, and total operating expenses climbed year over year to €42.8 million from €41.2 million.

Reported net income came to €1.7 million, or 34 cents per share, compared to a loss of €108,000, or a loss of 2 cents per share, in the prior-year period.