Ahlers AG said its normalized net income for the fiscal second quarter ended May 31 amounted to €2.3 million, compared with a loss of €3.1 million in the year-earlier period.

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

The normalized profit margin increased to negative 4.4% from negative 6.1% in the year-earlier period.

Total revenue grew on an annual basis to €52.1 million from €50.3 million, and total operating expenses rose year over year to €55.5 million from €54.9 million.

Reported net income came to a loss of €2.8 million, compared with a loss of €3.5 million in the year-earlier period.