damiani spa (DMN) Snapshot

Damiani SpA announced consolidated and parent earnings results for the year ended March 31, 2013. For the year, on consolidated basis, revenues were EUR 137.8 million compared to EUR 151.6 million to 31 March 2011, a fall of 9.1%, at current exchange rates and 9.6% at fixed exchange rates. LBITDA of EUR 2.7 million, improving with respect to the EUR 4.3 million recorded at 31 March 2012. The operating loss was EUR 6.3 million, an improvement with respect to the EUR 7.4 million recorded at 31 March 2012. Net loss was EUR 8.6, an improvement with respect to the EUR 11.9 million for the financial year 2012. Net financial debt was EUR 33.0 million, an improvement over the EUR 36.7 million at 31 December 2012. For the year, on parent basis, total revenues of EUR 78.5 million increase of 21.2% compared to the previous financial year and a net loss of EUR 3.2 million compared to EUR 6.0 million in the previous financial year. The director Francesco Minoli, non-executive director of the company after annual report approval, has resigned, for personal reasons, from the position with effect from the date of the shareholders’ meeting to approve the balance of accounts for the financial year to 31 March 2013. Director Minoli does not hold shares in the company.

Damiani SpA reported consolidated earnings results for the nine months period ended December 31, 2012. For the period, the company reported total revenues of EUR 107,626,000 compared to EUR 118,443,000 a year ago. LBITDA was EUR 966,000 compared to EBITDA of EUR 1,419,000 a year ago. Operating loss was EUR 3,194,000 compared to EUR 838,000 a year ago. Loss before income taxes was EUR 4,529,000 compared to EUR 2,621,000 a year ago. Net loss was EUR 4,738,000 or EUR 0.06 basic per share compared to EUR 5,304,000 or EUR 0.07 basic per share a year ago. The EBITDA trend was penalized by the decline in revenues, partially offset by savings for some cost components. As of December 31, 2012, the group’s net financial position was negative and equal to EUR 36.7 million.

Damiani SpA reported consolidated earnings results for the first quarter ended June 30, 2012. For the quarter, the company reported total revenues of €31,401,000 compared to €32,898,000, LBITDA of €1,100,000 compared to €753,000, operating loss of €1,828,000 compared to €1,504,000 and net loss of €2,827,000 or €0.04 per diluted share compared to €2,252,000 or €0.03 per diluted share for the last year. Total revenues were decreased by 4.6% compared to the same period of the previous year and operating results negative. Such performance was the direct consequence of the decrease offset by an overall reduction of the operating costs, through the compensation of different items with opposed trend that allowed a partial recover to the operating results. The net loss worsening compared to the first quarter of last year was influenced by net financial expenses and taxes more negative. The company reported net cash flow provided by operating activities of €1,693,000 compared to €2,700,000 and tangible fixed assets purchases of €128,000 compared to €498,000 for the last year.