Wool Industry Tria Alfa SA said its normalized net income for the first quarter was a loss of 4 euro cents per share, compared with a loss of 5 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 €38,760, compared with a loss of €48,240 in the prior-year period.

The normalized profit margin rose to negative 76.7% from negative 172.7% in the year-earlier period.

Total revenue rose 80.9% year over year to €50,520 from €27,930, and total operating expenses increased 11.3% on an annual basis to €99,170 from €89,130.

Reported net income totaled a loss of €58,770, or a loss of 6 cents per share, compared to a loss of €74,680, or a loss of 7 cents per share, in the prior-year period.