LANDSBERG AM LECH (dpa-AFX) - Rational AG (RTLLF.PK) reported lower profit for the second quarter, reflecting weak sales revenue hit by COVID-19 pandemic.
The company's second-quarter earnings after taxes plunged 97% to EUR 1.2 million from EUR 40.0 million reported last year. On a per share basis, earnings declined to EUR 0.10 from EUR 3.52 reported in the prior year period.
Sales revenues for the quarter amounted to EUR 116.8 million, a decline of 43% compared to the previous year's EUR 205.1 million.
The falls in orders and sales revenues were driven by measures taken by governments to contain the corona pandemic, which meant that many of Rational's customers did not have a basis for doing business, the company said.
For the first half of the year, sales revenues decreased 25% to 298.0 million euros, compared to 399.4 million euros in the prior-year period.
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