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Saf-Holland Q1 profit climbs YOY

Saf-Holland SA said its normalized net income for the first quarter was 32 euro cents per share, a gain of 94.7% from 16 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 €16.9 million, an increase from €7.6 million in the prior-year period.

The normalized profit margin rose to 6.2% from 3.2% in the year-earlier period.

Total revenue climbed 15.2% year over year to €271.0 million from €235.3 million, and total operating expenses climbed 13.9% on an annual basis to €251.0 million from €220.4 million.

Reported net income grew year over year to €18.0 million, or 34 cents per share, from €8.3 million, or 18 cents per share.