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Schloss Wachenheim swings to loss in fiscal Q3

Schloss Wachenheim AG said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 1 euro cents per share, compared with 1 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €96,130, compared with income of €86,000 in the year-earlier period.

The normalized profit margin declined to negative 0.2% from 0.2% in the year-earlier period.

Total revenue rose on an annual basis to €57.2 million from €55.5 million, and total operating expenses increased year over year to €57.3 million from €56.0 million.

Reported net income came to a loss of €394,000, or a loss of 5 cents per share, compared to a loss of €170,000, or a loss of 2 cents per share, in the prior-year period.