Wulff-Yhtiöt Oyj said its normalized net income for the third quarter was 2 euro cents per share, a decrease of 33.7% from 3 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 €120,630, a decline of 33.7% from €182,000 in the prior-year period.

The normalized profit margin fell to 0.9% from 1.2% in the year-earlier period.

Total revenue fell 9.4% on an annual basis to €13.4 million from €14.8 million, and total operating expenses declined 8.9% from the prior-year period to €13.2 million from €14.4 million.

Reported net income fell 11.0% year over year to €153,000, or 2 cents per share, from €172,000, or 3 cents per share.