AB Linas said its normalized net income for the first quarter was €33,130, a decline of 68.7% from €106,010 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 1.4% from 4.0% in the year-earlier period.
Total revenue fell 7.9% on an annual basis to €2.4 million from €2.7 million, and total operating expenses fell year over year to €2.4 million from €2.5 million.
Reported net income decreased 68.7% on an annual basis to €53,010, or 1 cents per share, from €169,620, or 2 cents per share.