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Emak swings to loss in Q3

Emak S.p.A. said its normalized net income for the third quarter came to a loss of €2.6 million, compared with income of €1.6 million in the prior-year period.

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

The normalized profit margin dropped to negative 3.5% from 2.3% in the year-earlier period.

Total revenue climbed year over year to €74.4 million from €71.7 million, and total operating expenses rose on an annual basis to €72.3 million from €69.7 million.

Reported net income came to a loss of €3.7 million, or a loss of 2 cents per share, compared to income of €1.5 million, or 1 cents per share, in the prior-year period.