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Bic-Fit Q1 loss widens 23.1% YOY

Basic-Fit NV said its normalized net income for the first quarter came to a loss of 19 euro cents per share, compared with a loss of 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 a loss of €5.8 million, compared with a loss of €4.7 million in the prior-year period.

The normalized profit margin climbed to negative 9.6% from negative 10.0% in the year-earlier period.

Total revenue climbed 27.5% on an annual basis to €60.5 million from €47.4 million, and total operating expenses rose 25.3% on an annual basis to €58.9 million from €47.0 million.

Reported net income came to a loss of €7.2 million, or a loss of 24 cents per share, compared to a loss of €5.8 million, or a loss of 19 cents per share, in the year-earlier period.