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Seven Principles Q1 loss narrows YOY

Seven Principles AG said its normalized net income for the first quarter was a loss of 15 euro cents per share, compared with a loss of €2.51 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 €573,510, compared with a loss of €2.8 million in the prior-year period.

The normalized profit margin rose to negative 2.8% from negative 12.9% in the year-earlier period.

Total revenue declined on an annual basis to €20.5 million from €21.4 million, and total operating expenses fell 13.4% year over year to €22.8 million from €26.3 million.

Reported net income totaled a loss of €883,550, or a loss of 23 cents per share, compared to a loss of €4.4 million, or a loss of €3.97 per share, in the year-earlier period.