Giorgio Fedon & Figli Spa said its normalized net income for the first quarter was €440,000, a rise from €38,750 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to 2.4% from 0.3% in the year-earlier period.
Total revenue climbed 27.9% year over year to €18.3 million from €14.3 million, and total operating expenses grew 25.8% on an annual basis to €17.7 million from €14.1 million.
Reported net income totaled €437,000, compared with €11,000 in the year-earlier period.
