Sabaf SpA said its third-quarter normalized net income came to €2.0 million, a decrease from €2.0 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 6.0% from 6.3% in the year-earlier period.

Total revenue increased year over year to €33.2 million from €32.1 million, and total operating expenses rose from the prior-year period to €29.9 million from €29.0 million.

Reported net income came to €2.4 million, compared with €2.3 million in the year-earlier period.