Ahlers AG said its normalized net income for the fiscal second quarter ended May 31 was €3.1 million, compared with a loss of €3.0 million in the prior-year period.

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

The normalized profit margin fell to negative 6.1% from negative 5.9% in the year-earlier period.

Total revenue declined on an annual basis to €50.3 million from €51.0 million, and total operating expenses came to €54.9 million, compared with €55.4 million in the prior-year period.

Reported net income totaled a loss of €3.5 million, compared with a loss of €3.3 million in the year-earlier period.