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Vista Alegre swings to profit in Q2

Vista Alegre Atlantis SGPS SA said its normalized net income for the second quarter was €33,130, compared with a loss of €771,880 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 0.7% from negative 4.5% in the year-earlier period.

Total revenue rose 8.6% year over year to €18.8 million from €17.3 million, and total operating expenses totaled €17.8 million, compared with €17.9 million in the prior-year period.

Reported net income totaled €753,000, or 0 cents per share, compared to a loss of €759,000, or a loss of 0 cents per share, in the year-earlier period.