pferdewetten.de AG said its first-half normalized net income came to 24 euro cents per share, a gain of 14.7% from 21 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 €882,250, an increase of 14.7% from €769,060 in the year-earlier period.

Total revenue climbed 12.4% on an annual basis to €3.7 million from €3.3 million, and total operating expenses climbed 11.9% from the prior-year period to €2.4 million from €2.1 million.

Reported net income fell 34.5% year over year to €1.3 million, or 35 cents per share, from €1.9 million, or 53 cents per share.