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Immsi swings to profit in Q3

Immsi SpA said its normalized net income for the third quarter amounted to €1.1 million, compared with a loss of €22.1 million in the year-earlier period.

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

The normalized profit margin climbed to 0.4% from negative 7.0% in the year-earlier period.

Total revenue grew on an annual basis to €327.0 million from €318.2 million, and total operating expenses climbed 5.8% on an annual basis to €310.6 million from €293.5 million.

Reported net income totaled a loss of €374,000, or a loss of 0 cents per share, compared to a loss of €21,000, or a loss of 0 cents per share, in the prior-year period.