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Raval ACS Q2 profit falls YOY

Raval ACS Ltd. said its normalized net income for the second quarter was 2 euro cents per share, a decline of 27.2% from 3 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 €1.8 million, a decline of 26.9% from €2.4 million in the year-earlier period.

The normalized profit margin fell to 4.0% from 5.9% in the year-earlier period.

Total revenue climbed 8.3% year over year to €44.7 million from €41.3 million, and total operating expenses increased 10.6% on an annual basis to €41.6 million from €37.6 million.

Reported net income fell 33.1% from the prior-year period to €2.3 million, or 3 cents per share, from €3.5 million, or 4 cents per share.