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Polytec Holding Q1 profit climbs YOY

Polytec Holding AG said its first-quarter normalized net income came to 22 euro cents per share, an increase from 11 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 €4.7 million, an increase from €2.3 million in the prior-year period.

The normalized profit margin rose to 3.0% from 2.0% in the year-earlier period.

Total revenue climbed 31.9% year over year to €156.4 million from €118.5 million, and total operating expenses rose 29.2% year over year to €147.6 million from €114.2 million.

Reported net income increased 92.1% year over year to €5.7 million, or 26 cents per share, from €3.0 million, or 13 cents per share.