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Blumar SA Q2 profit falls YOY

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Blumar SA Q2 profit falls YOY

Blumar SA said its normalized net income for the second quarter amounted to $3.8 million, a decrease of 34.6% from $5.8 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 fell to 3.5% from 6.8% in the year-earlier period.

Total revenue rose 28.2% year over year to $109.5 million from $85.4 million, and total operating expenses rose 39.7% on an annual basis to $101.8 million from $72.9 million.

Reported net income rose on an annual basis to $4.8 million, or 0 cents per share, from $4.7 million, or 0 cents per share.