Vincenzo Zucchi SpA said its normalized net income for the first quarter was €1.8 million, compared with a loss of €2.9 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 increased to negative 4.7% from negative 8.8% in the year-earlier period.
Total revenue came to €32.6 million, compared with €32.7 million in the prior-year period, and total operating expenses fell 5.3% on an annual basis to €35.7 million from €37.7 million.
Reported net income totaled a loss of €3.7 million, compared with a loss of €5.3 million in the prior-year period.
