Tonkens Agrar AG said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 43 euro cents per share, a decrease of 48.5% from 83 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 €704,910, a decline of 48.7% from €1.4 million in the prior-year period.
Total revenue fell 16.0% on an annual basis to €7.7 million from €9.1 million, and total operating expenses fell 7.4% year over year to €6.1 million from €6.6 million.
Reported net income declined 34.6% on an annual basis to €1.1 million, or 65 cents per share, from €1.6 million, or 99 cents per share.
