Baccarat S.A. said its normalized net income for the first half amounted to a loss of €2.25 per share, compared with a loss of €2.01 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 €1.9 million, compared with a loss of €1.7 million in the year-earlier period.

Total revenue fell on an annual basis to €65.3 million from €66.1 million, and total operating expenses declined year over year to €67.2 million from €68.4 million.

Reported net income totaled a loss of €3.9 million, or a loss of €4.67 per share, compared to a loss of €916,000, or a loss of €1.10 per share, in the year-earlier period.