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Fortec Elektronik fiscal Q2 profit climbs YOY

FORTEC Elektronik AG said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 26 euro cents per share, an increase from 8 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 €769,010, a gain from €250,410 in the prior-year period.

The normalized profit margin climbed to 3.1% from 2.7% in the year-earlier period.

Total revenue increased year over year to €20.0 million from €9.2 million, and total operating expenses climbed 95.7% year over year to €19.3 million from €9.8 million.

Reported net income increased on an annual basis to €890,800, or 30 cents per share, from €309,190, or 10 cents per share.