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Pininfarina Q3 loss narrows YOY

Pininfarina SpA said its normalized net income for the third quarter amounted to a loss of 2 euro cents per share, compared with a loss of 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €529,800, compared with a loss of €1.8 million in the year-earlier period.

The normalized profit margin rose to negative 3.1% from negative 10.3% in the year-earlier period.

Total revenue decreased 19.9% on an annual basis to €14.1 million from €17.6 million, and total operating expenses fell 24.9% from the prior-year period to €14.5 million from €19.3 million.

Reported net income came to a loss of €760,850, or a loss of 3 cents per share, compared to a loss of €3.0 million, or a loss of 10 cents per share, in the prior-year period.