Tadiran Holdings Ltd. said its normalized net income for the second quarter came to 1.14 shekels per share, an increase of 6.6% from 1.07 shekels per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.1 million shekels, an increase of 6.4% from 8.6 million shekels in the year-earlier period.

The normalized profit margin dropped to 4.9% from 5.1% in the year-earlier period.

Total revenue rose 10.4% year over year to 184.5 million shekels from 167.1 million shekels, and total operating expenses rose 12.1% on an annual basis to 169.5 million shekels from 151.2 million shekels.

Reported net income declined 8.4% on an annual basis to 14.7 million shekels, or 1.84 shekels per share, from 16.0 million shekels, or 2.01 shekels per share.

As of Aug. 11, US$1 was equivalent to 3.82 shekels.