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Elgeka SA swings to profit in Q1

Elgeka SA said its first-quarter normalized net income was €242,630, compared with a loss of €51,630 in the year-earlier period.

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

The normalized profit margin climbed to 0.4% from negative 0.1% in the year-earlier period.

Total revenue decreased 17.9% year over year to €57.0 million from €69.5 million, and total operating expenses decreased 18.3% year over year to €55.1 million from €67.5 million.

Reported net income rose from the prior-year period to €406,000, or 1 cents per share, from €102,000, or 0 cents per share.