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Ludwig Beck profit misses consensus by 75.9% in Q2

Ludwig Beck am Rathauseck - Textilhaus Feldmeier AG said its normalized net income for the second quarter came to 10 euro cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS declined 94.5% year over year from €1.86.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €375,000, a decline of 94.5% from €6.9 million in the prior-year period.

The normalized profit margin dropped to 1.1% from 23.4% in the year-earlier period.

Total revenue grew 20.4% year over year to €35.4 million from €29.4 million, and total operating expenses climbed 91.2% year over year to €34.6 million from €18.1 million.

Reported net income declined 98.2% from the prior-year period to €200,000, or 5 cents per share, from €10.9 million, or €2.95 per share.