pferdewetten.de AG said its normalized net income for the second half came to 12 euro cents per share, a decrease of 11.0% from 14 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 €508,480, a decrease of 9.0% from €558,880 in the prior-year period.

Total revenue grew 18.3% on an annual basis to €3.4 million from €2.9 million, and total operating expenses climbed 31.8% on an annual basis to €2.7 million from €2.0 million.

Reported net income increased 67.3% on an annual basis to €842,220, or 20 cents per share, from €503,410, or 12 cents per share.

For the year, the company's normalized net income totaled 33 cents per share, a gain of 28.5% from 26 cents per share in the prior year.

Normalized net income was €1.3 million, an increase of 30.0% from €982,500 in the prior year.

Full-year total revenue grew 25.8% year over year to €6.7 million from €5.3 million, and total operating expenses rose 24.5% on an annual basis to €4.8 million from €3.9 million.

The company said reported net income grew on an annual basis to €2.8 million, or 71 cents per share, in the full year, from €1.2 million, or 31 cents per share.