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Ludwig Beck swings to loss in Q1

Ludwig Beck am Rathauseck - Textilhaus Feldmeier AG said its normalized net income for the first quarter amounted to a loss of 3 euro cents per share, compared with 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €125,000, compared with income of €125,000 in the year-earlier period.

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

Total revenue stayed flat year over year at €18.3 million, and total operating expenses climbed from the prior-year period to €18.2 million from €17.8 million.

Reported net income totaled a loss of €100,000, or a loss of 3 cents per share, compared to income of €200,000, or 5 cents per share, in the prior-year period.