OVS SpA said its normalized net income for the fiscal first half ended July 31 was 3 euro cents per share, compared with a loss of 2 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 €3.8 million, compared with a loss of €3.2 million in the year-earlier period.
Total revenue rose 7.9% on an annual basis to €589.4 million from €546.5 million, and total operating expenses climbed 5.2% from the prior-year period to €553.9 million from €526.4 million.
Reported net income came to a loss of €15.4 million, or a loss of 11 cents per share, compared to a loss of €25.2 million, or a loss of 18 cents per share, in the year-earlier period.
