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Ludwig Beck Q1 loss widens YOY

Ludwig Beck am Rathauseck - Textilhaus Feldmeier AG said its first-quarter normalized net income amounted to a loss of 32 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 7 cents per share.

The per-share loss increased year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €1.2 million, compared with a loss of €125,000 in the prior-year period.

The normalized profit margin declined to negative 3.8% from negative 0.7% in the year-earlier period.

Total revenue rose 71.6% on an annual basis to €31.4 million from €18.3 million, and total operating expenses increased 82.4% on an annual basis to €33.2 million from €18.2 million.

Reported net income totaled a loss of €2.5 million, or a loss of 68 cents per share, compared to a loss of €100,000, or a loss of 3 cents per share, in the year-earlier period.