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Smartphoto Group swings to profit in H1

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Smartphoto Group swings to profit in H1

Smartphoto Group NV said its normalized net income for the first half was 5 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 10 cents per share.

The per-share result swung to a profit from the prior-year loss of 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €196,880, compared with a loss of €307,500 in the prior-year period.

Total revenue increased 26.0% year over year to €16.0 million from €12.7 million, and total operating expenses rose 21.1% from the prior-year period to €15.5 million from €12.8 million.

Reported net income came to a loss of €409,000, or a loss of 10 cents per share, compared to a loss of €1.1 million, or a loss of 29 cents per share, in the year-earlier period.