Philippos Nakas SA said its normalized net income for the fiscal third quarter ended March 31 amounted to 5 euro cents per share, a gain of 42.4% from 4 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 €340,230, an increase of 42.9% from €238,080 in the year-earlier period.

The normalized profit margin rose to 6.4% from 5.5% in the year-earlier period.

Total revenue increased 23.4% year over year to €5.3 million from €4.3 million, and total operating expenses rose 20.6% on an annual basis to €4.7 million from €3.9 million.

Reported net income rose 76.3% from the prior-year period to €493,320, or 8 cents per share, from €279,850, or 4 cents per share.