Snowbird AG said its third-quarter normalized net income came to 20 euro cents per share, a decrease of 8.1% from 22 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 €6.4 million, a decline of 16.5% from €7.7 million in the prior-year period.
The normalized profit margin dropped to 9.2% from 16.1% in the year-earlier period.
Total revenue increased 46.0% year over year to €69.9 million from €47.8 million, and total operating expenses increased 69.5% on an annual basis to €60.2 million from €35.5 million.
Reported net income declined 29.5% from the prior-year period to €6.0 million, or 19 cents per share, from €8.5 million, or 24 cents per share.