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Linz Textil Q1 profit climbs 57.4% YOY

Linz Textil Holding AG said its normalized net income for the first quarter amounted to €3.47 per share, an increase of 57.4% from €2.21 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.0 million, an increase of 57.4% from €661,880 in the prior-year period.

The normalized profit margin increased to 3.2% from 2.0% in the year-earlier period.

Total revenue fell on an annual basis to €32.5 million from €33.2 million, and total operating expenses increased from the prior-year period to €32.8 million from €32.4 million.

Reported net income rose 60.1% on an annual basis to €1.2 million, or €4.08 per share, from €765,000, or €2.55 per share.