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Immsi swings to loss in Q4

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Immsi swings to loss in Q4

Immsi SpA said its normalized net income for the fourth quarter amounted to a loss of 1 euro cents per share, compared with 4 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 €4.7 million, compared with income of €13.6 million in the year-earlier period.

The normalized profit margin fell to negative 1.5% from 4.5% in the year-earlier period.

Total revenue rose on an annual basis to €309.5 million from €300.6 million, and total operating expenses rose on an annual basis to €318.2 million from €314.2 million.

Reported net income came to a loss of €12.5 million, or a loss of 4 cents per share, compared to a loss of €30.8 million, or a loss of 9 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled €616,130, compared with a loss of €-8.0 million in the prior year.

Full-year total revenue increased 6.9% on an annual basis to €1.36 billion from €1.27 billion, and total operating expenses increased 6.9% on an annual basis to €1.31 billion from €1.23 billion.

The company said reported net income totaled a loss of €9.6 million, or a loss of 3 cents per share, in the full year, compared with a loss of €70.8 million, or a loss of 21 cents per share, the prior year.