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Gurktaler fiscal H2 profit climbs 70.6% YOY

Gurktaler AG said its normalized net income for the fiscal second half ended March 31 amounted to 25 euro cents per share, an increase of 29.3% from 20 cents per share in the second half ended April 1, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €761,250, a gain of 70.6% from €446,250 in the second half ended April 1, 2014.

Total revenue declined on an annual basis to €440,000 from €461,000, and total operating expenses decreased year over year to €258,000 from €262,000.

Reported net income totaled a loss of €1.3 million, or a loss of 42 cents per share, compared to income of €734,000, or 32 cents per share, in the second half ended April 1, 2014.

For the year, the company's normalized net income totaled 43 cents per share, an increase of 18.3% from 37 cents per share in the prior year.

Normalized net income was €976,880, a rise of 18.3% from €825,630 in the prior year.

Full-year total revenue amounted to €838,000, compared with €844,000 in the prior year, and total operating expenses rose on an annual basis to €494,000 from €476,000.

The company said reported net income totaled a loss of €944,000, or a loss of 42 cents per share, in the full year, compared with income of €1.3 million, or 58 cents per share, the prior year.