Damiani SpA said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 2 euro cents per share, compared with a loss of 2 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 a loss of €2.2 million, compared with a loss of €2.4 million in the prior-year period.

The normalized profit margin rose to negative 5.3% from negative 7.0% in the year-earlier period.

Total revenue increased year over year to €35.0 million from €34.0 million, and total operating expenses increased on an annual basis to €37.6 million from €35.9 million.

Reported net income came to a loss of €1.7 million, or a loss of 2 cents per share, compared to a loss of €5.0 million, or a loss of 5 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 4 cents per share, compared with a loss of 5 cents per share in the prior year.

Normalized net income was a loss of €3.2 million, compared with a loss of €4.2 million in the prior year.

Full-year total revenue rose from the prior-year period to €150.4 million from €144.2 million, and total operating expenses increased on an annual basis to €152.5 million from €148.4 million.

The company said reported net income came to a loss of €3.1 million, or a loss of 4 cents per share, in the full year, compared with a loss of €8.5 million, or a loss of 11 cents per share, the prior year.