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Sport Lisboa e Benfica swings to loss in fiscal Q2

Sport Lisboa e Benfica - Futebol SAD said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was a loss of 21 euro cents per share, compared with 32 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 a loss of €4.7 million, compared with income of €7.4 million in the prior-year period.

The normalized profit margin declined to negative 13.3% from 23.2% in the year-earlier period.

Total revenue rose 9.1% year over year to €35.1 million from €32.1 million, and total operating expenses climbed on an annual basis to €38.2 million from €15.6 million.

Reported net income totaled a loss of €7.6 million, or a loss of 33 cents per share, compared to income of €12.4 million, or 54 cents per share, in the year-earlier period.