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Lanakam Q3 loss narrows YOY

Lanakam SA said its third-quarter normalized net income came to a loss of €4,380, compared with a loss of €108,900 in the prior-year period.

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

The normalized profit margin rose to negative 1.1% from negative 18.6% in the year-earlier period.

Total revenue fell 34.6% on an annual basis to €382,410 from €584,360, and total operating expenses decreased 49.3% year over year to €371,260 from €731,820.

Reported net income came to a loss of €17,270, or a loss of 0 cents per share, compared to a loss of €174,240, or a loss of 3 cents per share, in the year-earlier period.