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A/S SAF Tehnika fiscal Q2 profit falls YOY

SAF Tehnika A/S said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 8 euro cents per share, a decrease from 8 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 €233,560, a decline from €237,910 in the prior-year period.

The normalized profit margin rose to 6.8% from 6.5% in the year-earlier period.

Total revenue declined 5.8% on an annual basis to €3.4 million from €3.7 million, and total operating expenses fell 5.7% on an annual basis to €3.3 million from €3.5 million.

Reported net income grew 56.0% year over year to €312,360, or 11 cents per share, from €200,280, or 7 cents per share.