Saf-Holland SA said its second-quarter normalized net income came to 23 euro cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

EPS rose 24.1% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €11.7 million, a gain of 39.5% from €8.4 million in the year-earlier period.

The normalized profit margin climbed to 4.0% from 3.4% in the year-earlier period.

Total revenue rose 16.6% on an annual basis to €287.7 million from €246.7 million, and total operating expenses increased 14.5% year over year to €264.3 million from €230.8 million.

Reported net income rose 32.4% year over year to €12.2 million, or 24 cents per share, from €9.2 million, or 20 cents per share.