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Stefanel Q1 loss widens YOY

Stefanel SpA said its first-quarter normalized net income was a loss of 3 euro cents per share, compared with a loss of 3 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 a loss of €2.4 million, compared with a loss of €2.3 million in the prior-year period.

The normalized profit margin declined to negative 5.4% from negative 5.3% in the year-earlier period.

Total revenue declined year over year to €44.1 million from €44.5 million, and total operating expenses fell from the prior-year period to €46.5 million from €47.1 million.

Reported net income came to a loss of €4.5 million, or a loss of 5 cents per share, compared to a loss of €4.7 million, or a loss of 6 cents per share, in the year-earlier period.