MARR S.p.A. said its normalized net income for the third quarter was 32 euro cents per share, an increase of 9.9% from 29 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 €21.5 million, a gain of 9.9% from €19.5 million in the prior-year period.

The normalized profit margin increased to 4.8% from 4.6% in the year-earlier period.

Total revenue increased year over year to €443.4 million from €424.8 million, and total operating expenses climbed on an annual basis to €407.8 million from €391.6 million.

Reported net income grew 18.8% on an annual basis to €25.3 million, or 38 cents per share, from €21.3 million, or 32 cents per share.