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Vincenzo Zucchi Q1 loss narrows YOY

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.