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Mastrad swings to profit in fiscal H1

Mastrad SA said its normalized net income for the fiscal first half ended Dec. 31, 2014, was €37,380, compared with a loss of €293,750 in the prior-year period.

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

Total revenue decreased 26.4% year over year to €12.0 million from €16.4 million, and total operating expenses declined 32.1% from the prior-year period to €12.2 million from €18.0 million.

Reported net income totaled a loss of €82,000, or a loss of 1 cents per share, compared to a loss of €1.3 million, or a loss of 21 cents per share, in the year-earlier period.