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Damiani fiscal Q2 loss narrows YOY

Damiani SpA said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 2 euro cents per share, compared with a loss of 2 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 €1.4 million, compared with a loss of €1.8 million in the year-earlier period.

The normalized profit margin dropped to negative 6.2% from negative 5.8% in the year-earlier period.

Total revenue increased year over year to €32.7 million from €31.3 million, and total operating expenses climbed year over year to €34.6 million from €33.4 million.

Reported net income totaled a loss of €3.1 million, or a loss of 4 cents per share, compared to a loss of €2.3 million, or a loss of 3 cents per share, in the year-earlier period.