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Bialetti Industrie swings to loss in H1

Bialetti Industrie S.p.A said its first-half normalized net income came to a loss of €918,750, compared with income of €304,500 in the prior-year period.

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

Total revenue climbed on an annual basis to €82.3 million from €79.4 million, and total operating expenses increased 7.2% on an annual basis to €80.9 million from €75.5 million.

Reported net income totaled a loss of €686,000, or a loss of 1 cents per share, compared to a loss of €943,000, or a loss of 1 cents per share, in the year-earlier period.