Fieratex SA said its first-quarter normalized net income was a loss of 1 euro cents per share, compared with a loss of 1 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 a loss of €141,740, compared with a loss of €125,400 in the year-earlier period.

The normalized profit margin dropped to negative 2.3% from negative 1.9% in the year-earlier period.

Total revenue declined year over year to €6.2 million from €6.5 million, and total operating expenses decreased year over year to €6.3 million from €6.6 million.

Reported net income came to a loss of €346,440, or a loss of 3 cents per share, compared to a loss of €165,150, or a loss of 2 cents per share, in the prior-year period.