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Damiani fiscal Q3 profit climbs 17.2% YOY

Damiani SpA said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 4 euro cents per share, a gain of 37.4% from 3 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 €1.9 million, an increase of 17.2% from €1.6 million in the prior-year period.

The normalized profit margin fell to 3.5% from 3.6% in the year-earlier period.

Total revenue rose 17.9% year over year to €53.4 million from €45.3 million, and total operating expenses grew 15.1% on an annual basis to €49.3 million from €42.8 million.

Reported net income decreased 35.0% from the prior-year period to €1.8 million, or 4 cents per share, from €2.8 million, or 4 cents per share.