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Cesar SA swings to loss in fiscal year

Cesar SA said its normalized net income for the fiscal full year ended March 31 amounted to a loss of 10 euro cents per share, compared with 12 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 €220,880, compared with income of €281,880 in the year-earlier period.

The normalized profit margin dropped to negative 11.2% from 11.8% in the year-earlier period.

Total revenue declined 17.3% year over year to €2.0 million from €2.4 million, and total operating expenses increased 18.3% on an annual basis to €2.3 million from €2.0 million.

Reported net income fell 58.0% on an annual basis to €390,260, or 17 cents per share, from €929,480, or 40 cents per share.