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Silvano Fashion Q3 profit falls YOY

AS Silvano Fashion Group said its normalized net income for the third quarter was 7 euro cents per share, a decrease of 32.2% from 10 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 €2.6 million, a decline of 33.1% from €3.8 million in the prior-year period.

The normalized profit margin declined to 17.1% from 22.1% in the year-earlier period.

Total revenue declined 13.4% year over year to €15.0 million from €17.4 million, and total operating expenses declined 17.4% from the prior-year period to €10.8 million from €13.0 million.

Reported net income fell 39.2% on an annual basis to €3.1 million, or 8 cents per share, from €5.2 million, or 13 cents per share.