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Pankl Racing profit holds mostly steady YOY in Q1

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Pankl Racing profit holds mostly steady YOY in Q1

Pankl Racing Systems AG said its first-quarter normalized net income was 94 euro cents per share, compared with 94 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.9 million, compared with €3.0 million in the year-earlier period.

The normalized profit margin dropped to 6.3% from 6.3% in the year-earlier period.

Total revenue totaled €46.7 million, compared with €46.8 million in the prior-year period, and total operating expenses climbed year over year to €41.9 million from €40.8 million.

Reported net income increased from the prior-year period to €3.7 million, or €1.18 per share, from €3.6 million, or €1.13 per share.