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Selected Textiles fiscal Q2 loss widens YOY

Selected Textiles SA said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of €555,950, compared with a loss of €259,780 in the prior-year period.

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

The normalized profit margin dropped to negative 4.1% from negative 2.1% in the year-earlier period.

Total revenue rose 9.0% on an annual basis to €13.5 million from €12.4 million, and total operating expenses increased 13.4% on an annual basis to €13.6 million from €12.0 million.

Reported net income totaled a loss of €898,420, or a loss of 2 cents per share, compared to a loss of €2.6 million, or a loss of 5 cents per share, in the year-earlier period.