AS Co. SA said its normalized net income for the first half amounted to 7 euro cents per share, a decline of 18.5% from 8 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €855,600, a decline of 18.5% from €1.0 million in the prior-year period.

Total revenue increased year over year to €10.5 million from €10.2 million, and total operating expenses rose 6.0% from the prior-year period to €9.0 million from €8.5 million.

Reported net income declined 18.1% year over year to €984,090, or 8 cents per share, from €1.2 million, or 9 cents per share.