SHW AG said its normalized net income for the first quarter was 58 euro cents per share, a gain of 19.9% from 48 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.6 million, a gain of 25.5% from €2.8 million in the year-earlier period.
The normalized profit margin climbed to 3.0% from 2.7% in the year-earlier period.
Total revenue rose 11.7% year over year to €117.0 million from €104.8 million, and total operating expenses climbed 11.0% from the prior-year period to €111.0 million from €100.0 million.
Reported net income increased 26.0% on an annual basis to €4.1 million, or 67 cents per share, from €3.2 million, or 55 cents per share.
