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Lucas Bols swings to profit in fiscal H2

Lucas Bols NV said its normalized net income for the fiscal second half ended March 31 amounted to 11 euro cents per share, compared with a loss of 11 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.6 million, compared with a loss of €455,630 in the year-earlier period.

Total revenue declined year over year to €36.9 million from €37.5 million, and total operating expenses fell from the prior-year period to €27.8 million from €29.1 million.

Reported net income totaled a loss of €1.8 million, or a loss of 13 cents per share, compared to a loss of €1.4 million, or a loss of 34 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 43 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 19 cents.

EPS rose 18.7% from 36 cents in the prior year.

Normalized net income was €4.1 million, a rise from €1.6 million in the prior year.

Full-year total revenue fell on an annual basis to €77.7 million from €78.7 million, and total operating expenses decreased on an annual basis to €55.6 million from €57.2 million.

The company said reported net income decreased 29.1% year over year to €187,860, or 2 cents per share, in the full year, from €265,020, or 5 cents per share.