Selected Textiles SA said its normalized net income for the fiscal third quarter ended March 31 was a loss of €479,250, compared with a loss of €211,050 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 3.8% from negative 1.5% in the year-earlier period.

Total revenue decreased 9.3% on an annual basis to €12.7 million from €14.0 million, and total operating expenses fell 6.9% on an annual basis to €12.6 million from €13.6 million.

Reported net income came to a loss of €860,990, or a loss of 2 cents per share, compared to a loss of €469,330, or a loss of 1 cents per share, in the year-earlier period.