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3U Holding swings to profit in Q1

3U Holding AG said its normalized net income for the first quarter was €74,630, compared with a loss of €147,500 in the year-earlier period.

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

The normalized profit margin increased to 0.7% from negative 1.3% in the year-earlier period.

Total revenue decreased year over year to €11.3 million from €11.6 million, and total operating expenses fell 7.8% from the prior-year period to €11.3 million from €12.2 million.

Reported net income totaled €101,000, or 0 cents per share, compared to a loss of €335,990, or a loss of 1 cents per share, in the prior-year period.