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Pegas Nonwovens Q2 profit climbs YOY

PFNonwovens a.s. said its normalized net income for the second quarter came to 49 euro cents per share, compared with the S&P Capital IQ consensus estimate of 55 cents per share.

EPS climbed year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.3 million, an increase from €1.8 million in the year-earlier period.

The normalized profit margin increased to 8.3% from 3.5% in the year-earlier period.

Total revenue came to €51.6 million, compared with €51.1 million in the year-earlier period, and total operating expenses declined year over year to €44.4 million from €46.1 million.

Reported net income grew year over year to €7.1 million, or 80 cents per share, from €2.0 million, or 21 cents per share.