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Evrofarma swings to profit in Q1

Evrofarma SA said its normalized net income for the first quarter came to €296,250, compared with a loss of €103,130 in the year-earlier period.

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

The normalized profit margin increased to 4.4% from negative 1.8% in the year-earlier period.

Total revenue rose 17.1% on an annual basis to €6.7 million from €5.7 million, and total operating expenses increased 5.7% year over year to €5.9 million from €5.6 million.

Reported net income totaled €218,000, or 2 cents per share, compared to a loss of €261,000, or a loss of 2 cents per share, in the year-earlier period.