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EDreams Odigeo swings to loss in fiscal Q1

EDreams Odigeo SA said its normalized net income for the fiscal first quarter ended June 30 came to a loss of €270,000, compared with income of €4.7 million in the year-earlier period.

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

The normalized profit margin declined to negative 0.4% from 3.8% in the year-earlier period.

Total revenue decreased 5.9% on an annual basis to €118.3 million from €125.7 million, and total operating expenses totaled €102.4 million, compared with €103.4 million in the year-earlier period.

Reported net income came to a loss of €2.6 million, or a loss of 2 cents per share, compared to income of €3.8 million, or 4 cents per share, in the prior-year period.