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Pankl Racing Q3 profit climbs 69.8% YOY

Pankl Racing Systems AG said its normalized net income for the third quarter came to 25 euro cents per share, a gain of 73.9% from 15 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €791,250, a gain of 69.8% from €465,880 in the prior-year period.

The normalized profit margin climbed to 1.8% from 1.1% in the year-earlier period.

Total revenue rose on an annual basis to €43.3 million from €41.3 million, and total operating expenses increased on an annual basis to €41.0 million from €39.9 million.

Reported net income increased from the prior-year period to €1.3 million, or 41 cents per share, from €510,000, or 16 cents per share.