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F.G. Europe swings to profit in Q1

F.G. Europe SA said its normalized net income for the first quarter was €1.9 million, compared with a loss of €184,130 in the prior-year period.

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

The normalized profit margin increased to 8.5% from negative 1.3% in the year-earlier period.

Total revenue rose 49.9% year over year to €22.0 million from €14.6 million, and total operating expenses increased 17.0% on an annual basis to €16.9 million from €14.5 million.

Reported net income came to €1.6 million, or 3 cents per share, compared to a loss of €367,000, or a loss of 1 cents per share, in the year-earlier period.