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Ludwig Beck Q3 loss narrows YOY

Ludwig Beck am Rathauseck - Textilhaus Feldmeier AG said its normalized net income for the third quarter amounted to a loss of 17 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 34 cents per share.

The per-share loss narrowed 37.5% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €625,000, compared with a loss of €1.0 million in the prior-year period.

The normalized profit margin climbed to negative 1.9% from negative 2.7% in the year-earlier period.

Total revenue declined 12.1% year over year to €32.6 million from €37.1 million, and total operating expenses decreased 13.0% from the prior-year period to €33.4 million from €38.4 million.

Reported net income totaled a loss of €1.2 million, or a loss of 32 cents per share, compared to a loss of €2.1 million, or a loss of 57 cents per share, in the year-earlier period.