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Euromicron Q1 loss widens YOY

euromicron AG said its first-quarter normalized net income came to a loss of 36 euro cents per share, compared with a loss of 16 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 €2.5 million, compared with a loss of €1.1 million in the prior-year period.

The normalized profit margin dropped to negative 3.9% from negative 1.5% in the year-earlier period.

Total revenue decreased 12.5% on an annual basis to €65.7 million from €75.1 million, and total operating expenses declined 10.2% year over year to €68.7 million from €76.5 million.

Reported net income totaled a loss of €4.5 million, or a loss of 63 cents per share, compared to a loss of €2.0 million, or a loss of 27 cents per share, in the prior-year period.