Leifheit AG said its first-quarter normalized net income amounted to 40 euro cents per share, a decrease of 14.2% from 47 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 €3.8 million, a decline of 14.0% from €4.4 million in the year-earlier period.

The normalized profit margin declined to 5.9% from 7.7% in the year-earlier period.

Total revenue increased 11.5% on an annual basis to €64.7 million from €58.1 million, and total operating expenses rose 5.8% year over year to €56.8 million from €53.7 million.

Reported net income fell 14.1% year over year to €4.3 million, or 45 cents per share, from €5.0 million, or 53 cents per share.