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Elica Q3 profit climbs 49.7% YOY

Elica SpA said its third-quarter normalized net income was 4 euro cents per share, an increase of 49.7% from 3 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.3 million, a gain of 49.7% from €1.6 million in the year-earlier period.

The normalized profit margin climbed to 2.2% from 1.6% in the year-earlier period.

Total revenue increased 8.1% year over year to €107.0 million from €98.9 million, and total operating expenses grew 7.4% year over year to €102.3 million from €95.2 million.

Reported net income rose from the prior-year period to €2.0 million, or 3 cents per share, from €484,000, or 1 cents per share.