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Bic-Fit Q2 loss narrows YOY

Basic-Fit NV said its normalized net income for the second quarter was a loss of 9 euro cents per share, compared with a loss of 13 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €3.3 million, compared with a loss of €3.8 million in the year-earlier period.

The normalized profit margin declined to negative 12.1% from negative 7.8% in the year-earlier period.

Total revenue grew 30.0% on an annual basis to €63.3 million from €48.7 million, and total operating expenses rose 30.2% year over year to €59.4 million from €45.7 million.

Reported net income came to a loss of €18.9 million, or a loss of 53 cents per share, compared to a loss of €6.2 million, or a loss of 21 cents per share, in the prior-year period.