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Emova Group fiscal H2 loss widens YOY

Emova Group SA said its normalized net income for the fiscal second half ended Sept. 30, 2015, came to a loss of €374,250, compared with a loss of €158,630 in the year-earlier period.

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

Total revenue grew on an annual basis to €5.8 million from €5.6 million, and total operating expenses rose 5.6% year over year to €5.6 million from €5.3 million.

Reported net income increased from the prior-year period to €1.5 million, or 2 cents per share, from €623,920, or 0 cents per share.

For the year, the company's normalized net income totaled €1.0 million, compared with a loss of €-467,250 in the prior year.

Full-year total revenue fell 6.2% from the prior-year period to €11.7 million from €12.5 million, and total operating expenses fell on an annual basis to €12.0 million from €12.2 million.

The company said reported net income totaled €642,000, or 1 cents per share, in the full year, compared with a loss of €29,540, or a loss of 0 cents per share, the prior year.