Kompas Mejni Turisticni Servis d.d. said its normalized net income for the first quarter was 26 euro cents per share, a decline of 63.4% from 72 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 €157,090, a decrease of 63.4% from €428,970 in the prior-year period.

The normalized profit margin dropped to 0.7% from 2.0% in the year-earlier period.

Total revenue climbed 7.6% on an annual basis to €23.1 million from €21.4 million, and total operating expenses rose 7.1% from the prior-year period to €22.8 million from €21.2 million.

Reported net income decreased 63.4% year over year to €251,350, or 42 cents per share, from €686,340, or €1.15 per share.