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IVS Group swings to profit in Q3

IVS Group SA said its normalized net income for the third quarter amounted to 7 euro cents per share, compared with a loss of 4 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 €2.8 million, compared with a loss of €1.6 million in the year-earlier period.

The normalized profit margin climbed to 3.3% from negative 2.1% in the year-earlier period.

Total revenue grew 10.1% on an annual basis to €83.8 million from €76.2 million, and total operating expenses grew year over year to €74.9 million from €71.8 million.

Reported net income came to €4.1 million, or 11 cents per share, compared to a loss of €2.3 million, or a loss of 6 cents per share, in the year-earlier period.