Graines Voltz said its normalized net income for the fiscal first half ended March 31 amounted to €2.34 per share, a gain of 7.3% from €2.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.2 million, an increase of 7.3% from €3.0 million in the prior-year period.

Total revenue fell 7.4% year over year to €48.9 million from €52.8 million, and total operating expenses declined 8.0% year over year to €43.5 million from €47.3 million.

Reported net income grew 30.2% year over year to €3.4 million, or €2.46 per share, from €2.6 million, or €1.89 per share.