Emporiki Eisagogiki Aftokiniton Ditrohon kai Mihanon Thalassis SA said its normalized net income for the first quarter was a loss of 1 euro cents per share, compared with a loss of 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €159,720, compared with a loss of €266,650 in the prior-year period.

The normalized profit margin increased to negative 1.6% from negative 3.8% in the year-earlier period.

Total revenue climbed 40.6% on an annual basis to €9.8 million from €7.0 million, and total operating expenses climbed 36.3% on an annual basis to €10.0 million from €7.3 million.

Reported net income came to a loss of €254,530, or a loss of 2 cents per share, compared to a loss of €417,580, or a loss of 4 cents per share, in the year-earlier period.