BasicNet SpA said its normalized net income for the first quarter was 13 euro cents per share, an increase of 44.6% from 9 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 €7.2 million, an increase of 43.2% from €5.0 million in the prior-year period.
The normalized profit margin climbed to 18.5% from 14.4% in the year-earlier period.
Total revenue rose 11.0% on an annual basis to €38.8 million from €35.0 million, and total operating expenses grew 7.5% from the prior-year period to €28.2 million from €26.3 million.
Reported net income rose 39.5% on an annual basis to €7.6 million, or 13 cents per share, from €5.4 million, or 9 cents per share.
