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Pegas Nonwovens Q1 profit climbs YOY

Pegas Nonwovens a.s. said its first-quarter normalized net income was €1.03 per share, compared with the S&P Capital IQ consensus estimate of €1.21 per share.

EPS climbed year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €9.6 million, an increase from €3.8 million in the year-earlier period.

The normalized profit margin increased to 15.9% from 6.5% in the year-earlier period.

Total revenue increased year over year to €60.6 million from €58.8 million, and total operating expenses rose year over year to €51.9 million from €50.2 million.

Reported net income grew on an annual basis to €14.4 million, or €1.54 per share, from €5.5 million, or 60 cents per share.