Regenbogen AG said its normalized net income for the first half amounted to €976,250, compared with a loss of €888,750 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue increased on an annual basis to €4.4 million from €4.2 million, and total operating expenses climbed 5.9% from the prior-year period to €5.7 million from €5.3 million.

Reported net income totaled a loss of €1.3 million, compared with a loss of €1.3 million in the year-earlier period.