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CSP International Fashion Q1 profit falls YOY

CSP International Fashion Group SpA said its normalized net income for the first quarter came to 3 euro cents per share, a decline of 61.1% from 9 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 €1.1 million, a decline of 61.1% from €2.9 million in the prior-year period.

The normalized profit margin dropped to 3.4% from 8.3% in the year-earlier period.

Total revenue fell year over year to €33.0 million from €34.6 million, and total operating expenses increased on an annual basis to €30.9 million from €29.9 million.

Reported net income decreased 66.3% year over year to €1.0 million, or 3 cents per share, from €3.0 million, or 9 cents per share.