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Shiloh Industries fiscal Q2 profit climbs 16.2% YOY

Shiloh Industries Inc. said its normalized net income for the fiscal second quarter ended April 30 came to 37 cents per share, a gain of 15.7% from 32 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.4 million, a gain of 16.2% from $5.5 million in the year-earlier period.

The normalized profit margin fell to 2.1% from 2.6% in the year-earlier period.

Total revenue rose 34.2% on an annual basis to $280.4 million from $209.0 million, and total operating expenses increased 34.9% year over year to $268.7 million from $199.2 million.

Reported net income fell 10.2% year over year to $7.2 million, or 42 cents per share, from $8.1 million, or 47 cents per share.