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Bialetti Industrie swings to loss in Q3

Bialetti Industrie SpA said its normalized net income for the third quarter was €172,380, compared with income of €1.6 million in the year-earlier period.

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

The normalized profit margin declined to negative 0.5% from 4.5% in the year-earlier period.

Total revenue grew on an annual basis to €36.3 million from €35.6 million, and total operating expenses fell from the prior-year period to €32.1 million from €33.3 million.

Reported net income totaled a loss of €620,000, compared with income of €1.4 million in the prior-year period.