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Immsi swings to profit in Q1

Immsi SpA said its normalized net income for the first quarter was €354,500, compared with a loss of €1.9 million 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 0.1% from negative 0.7% in the year-earlier period.

Total revenue rose 9.6% year over year to €318.4 million from €290.6 million, and total operating expenses rose 8.0% year over year to €303.6 million from €281.3 million.

Reported net income totaled €207,000, or 0 cents per share, compared to a loss of €2.6 million, or a loss of 1 cents per share, in the prior-year period.