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MND Group swings to profit in fiscal H2

MND Group SA said its normalized net income for the fiscal second half ended March 31 came to 23 euro cents per share, compared with a loss of 43 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 €2.4 million, compared with a loss of €3.5 million in the year-earlier period.

Total revenue rose 20.8% on an annual basis to €41.6 million from €34.5 million, and total operating expenses declined on an annual basis to €37.7 million from €39.6 million.

Reported net income totaled €5.3 million, or 51 cents per share, compared to a loss of €5.4 million, or a loss of 66 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 24 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 43 cents.

EPS was a loss of €1.17 in the prior year.

Normalized net income was a loss of €2.3 million, compared with a loss of €7.7 million in the prior year.

Full-year total revenue increased 21.0% on an annual basis to €61.4 million from €50.8 million, and total operating expenses rose year over year to €64.8 million from €62.2 million.

The company said reported net income came to a loss of €2.3 million, or a loss of 24 cents per share, in the full year, compared with a loss of €10.1 million, or a loss of €1.55 per share, the prior year.