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A/S SAF Tehnika swings to loss in fiscal Q3

SAF Tehnika A/S said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 5 euro cents per share, compared with 9 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 a loss of €169,790, compared with income of €256,350 in the prior-year period.

The normalized profit margin declined to negative 5.6% from 9.4% in the year-earlier period.

Total revenue climbed 10.4% on an annual basis to €3.0 million from €2.7 million, and total operating expenses rose 23.2% from the prior-year period to €3.2 million from €2.6 million.

Reported net income came to a loss of €251,280, or a loss of 8 cents per share, compared to income of €446,540, or 15 cents per share, in the prior-year period.