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Bialetti Industrie Q1 profit climbs YOY

Bialetti Industrie SpA said its first-quarter normalized net income amounted to €1.8 million, a gain from €403,750 in the prior-year period.

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

The normalized profit margin rose to 4.8% from 1.1% in the year-earlier period.

Total revenue increased 6.4% on an annual basis to €38.1 million from €35.9 million, and total operating expenses declined year over year to €33.0 million from €34.1 million.

Reported net income grew from the prior-year period to €1.8 million, or 2 cents per share, from €25,000.