Restamax Oyj said its normalized net income for the second quarter amounted to 2 euro cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS rose year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €349,750, a gain of 10.9% from €315,480 in the prior-year period.

The normalized profit margin fell to 1.3% from 1.5% in the year-earlier period.

Total revenue grew 28.7% year over year to €26.4 million from €20.5 million, and total operating expenses climbed 29.2% from the prior-year period to €25.9 million from €20.0 million.

Reported net income fell 45.5% on an annual basis to €170,560, or 1 cent per share, from €313,200, or 2 cents per share.