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Damiani fiscal Q2 loss narrows YOY

Damiani SpA said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 2 euro cents per share, compared with a loss of 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 €1.8 million, compared with a loss of €2.4 million in the prior-year period.

The normalized profit margin increased to negative 5.8% from negative 7.5% in the year-earlier period.

Total revenue decreased year over year to €31.3 million from €32.0 million, and total operating expenses fell 5.2% on an annual basis to €33.4 million from €35.2 million.

Reported net income came to a loss of €2.4 million, or a loss of 3 cents per share, compared to a loss of €4.0 million, or a loss of 5 cents per share, in the prior-year period.