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EL. D. Mouzakis Q3 loss narrows YOY

EL. D. Mouzakis SA said its normalized net income for the third quarter came to a loss of €111,030, compared with a loss of €625,530 in the year-earlier period.

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

The normalized profit margin rose to negative 7.4% from negative 47.6% in the year-earlier period.

Total revenue rose 14.9% on an annual basis to €1.5 million from €1.3 million, and total operating expenses fell 23.1% from the prior-year period to €1.8 million from €2.3 million.

Reported net income totaled a loss of €2.1 million, or a loss of 6 cents per share, compared to a loss of €1.0 million, or a loss of 3 cents per share, in the year-earlier period.