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Emak Q2 profit falls YOY

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Emak Q2 profit falls YOY

Emak SpA said its second-quarter normalized net income came to 3 euro cents per share, a decrease of 22.4% from 4 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 €5.0 million, a decrease of 22.4% from €6.4 million in the prior-year period.

The normalized profit margin dropped to 4.2% from 6.0% in the year-earlier period.

Total revenue grew 10.6% on an annual basis to €117.9 million from €106.6 million, and total operating expenses grew 13.1% on an annual basis to €108.0 million from €95.5 million.

Reported net income declined 34.8% year over year to €4.5 million, or 3 cents per share, from €6.9 million, or 4 cents per share.