Milkiland NV said its third-quarter normalized net income amounted to a loss of 19 euro cents per share, compared with a loss of 28 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €6.1 million, compared with a loss of €8.7 million in the prior-year period.
The normalized profit margin rose to negative 15.5% from negative 18.0% in the year-earlier period.
Total revenue decreased 19.7% on an annual basis to €39.0 million from €48.6 million, and total operating expenses declined 29.6% on an annual basis to €40.0 million from €56.8 million.
Reported net income totaled a loss of €9.7 million, or a loss of 31 cents per share, compared to a loss of €14.0 million, or a loss of 45 cents per share, in the prior-year period.