Le Tanneur & Cie said its normalized net income for the first half was a loss of 22 euro cents per share, compared with a loss of 13 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €942,500, compared with a loss of €549,380 in the year-earlier period.

Total revenue fell 7.8% year over year to €25.8 million from €28.0 million, and total operating expenses fell 6.0% from the prior-year period to €27.2 million from €28.9 million.

Reported net income totaled a loss of €1.5 million, or a loss of 34 cents per share, compared to a loss of €1.3 million, or a loss of 31 cents per share, in the prior-year period.