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Mastrad swings to loss in fiscal H1

Mastrad SA said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to a loss of €518,130, compared with income of €36,750 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue decreased 37.7% year over year to €7.5 million from €12.0 million, and total operating expenses declined 32.4% from the prior-year period to €8.3 million from €12.2 million.

Reported net income came to a loss of €710,000, or a loss of 11 cents per share, compared to a loss of €83,000, or a loss of 1 cents per share, in the prior-year period.