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Wolford fiscal Q1 loss narrows YOY

Wolford AG said its normalized net income for the fiscal first quarter ended July 31 amounted to a loss of 5 euro cents per share, compared with a loss of 70 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €249,380, compared with a loss of €3.4 million in the year-earlier period.

The normalized profit margin rose to negative 0.8% from negative 10.6% in the year-earlier period.

Total revenue declined on an annual basis to €31.9 million from €32.3 million, and total operating expenses fell 14.3% from the prior-year period to €32.2 million from €37.6 million.

Reported net income came to €1.5 million, or 30 cents per share, compared to a loss of €4.4 million, or a loss of 89 cents per share, in the year-earlier period.