Porsche Automobil Holding SE said Monday it swung to a €155 million ($205.3 million) net profit in the first three months of its fiscal year after suffering a €431 million loss a year earlier, and it reiterated that full-year earnings are expected to be positive in 2011. The German auto maker said in a statement, however, that last year’s figures include the full consolidated earnings from Volkswagen AG and Porsche Zwischenholding GmbH, which makes a direct comparison difficult. Porsche’s fiscal year started on Aug. 1. Porsche Holding, which controls a 51% stake in Volkwagen, in the meantime has sold a 49.9% stake in its core sports-car operations to Volkswagen as a first step of a complex merger between the two companies. – read more from WSJ