Graines Voltz said its normalized net income for the fiscal first half ended March 31 was €3.95 per share, a gain of 47.7% from €2.68 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €5.4 million, a gain of 47.7% from €3.7 million in the prior-year period.

Total revenue came to €49.3 million, compared with €48.9 million in the year-earlier period, and total operating expenses fell on an annual basis to €41.2 million from €42.8 million.

Reported net income decreased 38.2% year over year to €2.1 million, or €1.52 per share, from €3.4 million, or €2.46 per share.