Bergbahnen Engelberg-Trübsee-Titlis AG said its normalized net income for the fiscal first half ended April 30 amounted to CHF3.20 per share, a decline of 75.9% from CHF13.25 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF2.1 million, a decrease of 75.9% from CHF8.9 million in the prior-year period.

Total revenue fell 5.3% on an annual basis to CHF30.1 million from CHF31.8 million, and total operating expenses climbed 53.1% on an annual basis to CHF26.6 million from CHF17.4 million.

Reported net income decreased 76.5% year over year to CHF2.9 million, or CHF4.29 per share, from CHF12.3 million, or CHF18.26 per share.