Joint stock Co. Grobina said its second-quarter normalized net income amounted to a loss of 78 euro cents per share, compared with a loss of €1.06 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €390,090, compared with a loss of €530,710 in the year-earlier period.

The normalized profit margin increased to negative 19.4% from negative 58.7% in the year-earlier period.

Total revenue rose year over year to €2.0 million from €904,790, and total operating expenses grew 47.3% year over year to €2.5 million from €1.7 million.

Reported net income came to a loss of €624,150, or a loss of €1.24 per share, compared to a loss of €849,130, or a loss of €1.70 per share, in the prior-year period.