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Emak swings to profit in Q3

Emak S.p.A. said its normalized net income for the third quarter amounted to €1.1 million, compared with a loss of €2.6 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 increased to 1.3% from negative 3.5% in the year-earlier period.

Total revenue grew 7.3% on an annual basis to €79.8 million from €74.4 million, and total operating expenses climbed 6.3% from the prior-year period to €76.8 million from €72.3 million.

Reported net income totaled €780,000, or 1 cents per share, compared to a loss of €3.7 million, or a loss of 2 cents per share, in the year-earlier period.