Téléverbier SA said its normalized net income for the fiscal first half ended April 30 amounted to CHF4.5 million, a decrease of 25.0% from CHF6.0 million in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue decreased 6.3% year over year to CHF44.8 million from CHF47.8 million, and total operating expenses declined on an annual basis to CHF37.8 million from CHF38.4 million.
Reported net income totaled CHF5.9 million, compared with CHF7.8 million in the year-earlier period.
