Damiani SpA said its normalized net income for the fiscal first quarter ended June 30 was a loss of 1 euro cents per share, compared with a loss of 1 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 a loss of €1.0 million, compared with a loss of €1.0 million in the prior-year period.
The normalized profit margin fell to negative 3.3% from negative 3.1% in the year-earlier period.
Total revenue fell 6.9% year over year to €30.8 million from €33.1 million, and total operating expenses declined 6.1% year over year to €32.3 million from €34.4 million.
Reported net income totaled a loss of €775,280, or a loss of 1 cents per share, compared to a loss of €2.3 million, or a loss of 3 cents per share, in the year-earlier period.
