Ratti SpA said its first-quarter normalized net income came to €467,250, a gain of 18.2% from €395,380 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to 2.2% from 1.7% in the year-earlier period.
Total revenue decreased 9.4% year over year to €21.0 million from €23.2 million, and total operating expenses decreased 11.2% from the prior-year period to €20.0 million from €22.5 million.
Reported net income totaled €747,000, compared with €632,000 in the year-earlier period.
