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Utenos Trikotazas Q1 loss narrows YOY

AB Utenos Trikotazas said its first-quarter normalized net income amounted to a loss of 4 euro cents per share, compared with a loss of 18 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 a loss of €334,000, compared with a loss of €1.0 million in the year-earlier period.

The normalized profit margin climbed to negative 7.7% from negative 23.5% in the year-earlier period.

Total revenue came to €4.3 million, compared with €4.4 million in the prior-year period, and total operating expenses grew 6.8% on an annual basis to €4.5 million from €4.2 million.

Reported net income came to a loss of €464,000, or a loss of 5 cents per share, compared to a loss of €1.6 million, or a loss of 28 cents per share, in the prior-year period.