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Vocento swings to loss in Q1

Vocento SA said its first-quarter normalized net income came to €309,380, compared with income of €912,880 in the prior-year period.

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

The normalized profit margin declined to negative 0.3% from 0.8% in the year-earlier period.

Total revenue decreased 7.0% on an annual basis to €106.9 million from €114.9 million, and total operating expenses decreased 6.3% year over year to €104.5 million from €111.6 million.

Reported net income came to a loss of €9.0 million, compared with a loss of €1.7 million in the prior-year period.