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Leonardo S.p.A. Q1 profit climbs 200.0% YOY

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Leonardo S.p.A. Q1 profit climbs 200.0% YOY

Leonardo SpA said its normalized net income for the first quarter was €43.1 million, a rise of 200.0% from €14.4 million in the prior-year period.

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

The normalized profit margin climbed to 1.7% from 0.5% in the year-earlier period.

Total revenue decreased on an annual basis to €2.54 billion from €2.65 billion, and total operating expenses declined year over year to €2.40 billion from €2.51 billion.

Reported net income came to €56.0 million, compared with a loss of €6.0 million, or a loss of 1 cents per share, in the year-earlier period.