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SinnerSchrader swings to profit in fiscal Q2

SinnerSchrader AG said its normalized net income for the fiscal second quarter ended Feb. 29 came to 3 euro cents per share, compared with a loss of 1 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 €321,950, compared with a loss of €117,670 in the prior-year period.

The normalized profit margin increased to 2.7% from negative 1.1% in the year-earlier period.

Total revenue increased 13.3% on an annual basis to €12.0 million from €10.6 million, and total operating expenses rose 6.5% year over year to €11.5 million from €10.8 million.

Reported net income came to €343,230, or 3 cents per share, compared to a loss of €113,630, or a loss of 1 cents per share, in the prior-year period.