Ferrari NV said its normalized net income for the first quarter was €60.5 million, a gain of 21.9% from €49.6 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 climbed to 9.7% from 8.0% in the year-earlier period.
Total revenue totaled €620.9 million, compared with €619.9 million in the prior-year period, and total operating expenses declined on an annual basis to €525.0 million from €539.6 million.
Reported net income totaled €64.4 million, compared with €53.6 million in the year-earlier period.
