Dassault Systèmes SE said its first-quarter normalized net income came to 29 euro cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

In the prior-year period, the per-share result was a profit of 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €73.6 million, compared with €73.4 million in the prior-year period.

The normalized profit margin declined to 9.7% from 10.6% in the year-earlier period.

Total revenue grew 9.9% year over year to €759.8 million from €691.4 million, and total operating expenses increased 12.6% on an annual basis to €640.3 million from €568.9 million.

Reported net income fell 5.7% from the prior-year period to €84.9 million, or 33 cents per share, from €90.0 million, or 35 cents per share.