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Wolford swings to loss in fiscal Q2

Wolford AG said its normalized net income for the fiscal second quarter ended Oct. 31 amounted to a loss of €3,750, compared with income of €1.6 million in the prior-year period.

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

The normalized profit margin dropped to negative 0.0% from 3.8% in the year-earlier period.

Total revenue decreased on an annual basis to €40.7 million from €42.5 million, and total operating expenses increased on an annual basis to €40.6 million from €39.8 million.

Reported net income totaled a loss of €108,000, or a loss of 2 cents per share, compared to income of €2.4 million, or 49 cents per share, in the year-earlier period.