ZEAL Network SE said its third-quarter normalized net income was 3 euro cents per share, a decrease of 84.1% from 20 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 €261,880, a decline of 83.8% from €1.6 million in the year-earlier period.

The normalized profit margin fell to 1.0% from 4.4% in the year-earlier period.

Total revenue decreased 29.7% on an annual basis to €26.2 million from €37.2 million, and total operating expenses fell 28.1% year over year to €23.6 million from €32.9 million.

Reported net income came to a loss of €4.5 million, or a loss of 54 cents per share, compared to a loss of €413,000, or a loss of 5 cents per share, in the year-earlier period.