Centro HL Distribuzione SpA said its first-quarter normalized net income was a loss of €223,250, compared with a loss of €225,750 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 16.0% from negative 19.1% in the year-earlier period.

Total revenue climbed 18.0% on an annual basis to €1.4 million from €1.2 million, and total operating expenses rose 6.7% from the prior-year period to €1.6 million from €1.5 million.

Reported net income totaled a loss of €359,000, or a loss of 0 cents per share, compared to a loss of €378,000, or a loss of 0 cents per share, in the year-earlier period.