Ilkka-Yhtymä Oyj said its first-quarter normalized net income amounted to a loss of €170,000, compared with income of €422,500 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 1.7% from 4.2% in the year-earlier period.
Total revenue decreased year over year to €9.7 million from €10.1 million, and total operating expenses decreased year over year to €9.2 million from €9.4 million.
Reported net income totaled a loss of €175,000, or a loss of 1 cents per share, compared to income of €784,000, or 3 cents per share, in the prior-year period.