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Pegas Nonwovens Q3 profit climbs YOY

PFNonwovens a.s. said its normalized net income for the third quarter was 42 euro cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.

EPS increased year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.7 million, an increase from €273,750 in the year-earlier period.

The normalized profit margin rose to 7.3% from 0.5% in the year-earlier period.

Total revenue fell 11.8% on an annual basis to €51.1 million from €58.0 million, and total operating expenses decreased 18.7% on an annual basis to €43.8 million from €53.8 million.

Reported net income grew year over year to €5.5 million, or 62 cents per share, from €465,490, or 5 cents per share.