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Fieratex swings to loss in H1

Fieratex SA said its first-half normalized net income was a loss of 4 euro cents per share, compared with 1 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 a loss of €382,240, compared with income of €135,090 in the prior-year period.

Total revenue decreased year over year to €13.8 million from €14.5 million, and total operating expenses totaled €14.2 million, compared with €14.1 million in the prior-year period.

Reported net income came to a loss of €454,100, or a loss of 4 cents per share, compared to a loss of €61,460, or a loss of 1 cents per share, in the prior-year period.