Modelleria Brambilla S.p.A. said its normalized net income for the second half came to €95,470, an increase of 37.0% from €69,700 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue decreased 17.5% year over year to €7.2 million from €8.8 million, and total operating expenses declined 17.6% on an annual basis to €6.8 million from €8.2 million.
Reported net income totaled €71,470, or 2 cents per share, compared to a loss of €43,370 in the year-earlier period.
For the year, the company's normalized net income totaled 12 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 15 cents.
EPS rose 30.0% from 9 cents in the prior year.
Normalized net income was €463,810, a rise of 30.0% from €356,840 in the prior year.
Full-year total revenue amounted to €16.6 million, compared with €16.6 million in the prior year, and total operating expenses totaled €15.3 million, compared with €15.4 million in the prior-year period.
The company said reported net income increased year over year to €372,160, or 10 cents per share, in the full year, from €118,910, or 3 cents per share.