Cesar SA said its normalized net income for the fiscal first half ended Sept. 30, 2015, came to 2 euro cents per share, compared with a loss of 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €42,000, compared with a loss of €183,750 in the prior-year period.

Total revenue fell 19.2% on an annual basis to €2.8 million from €3.4 million, and total operating expenses declined 24.3% on an annual basis to €2.7 million from €3.6 million.

Reported net income came to a loss of €17,260, or a loss of 1 cents per share, compared to a loss of €303,990, or a loss of 13 cents per share, in the prior-year period.