AB Vilkyskiu pienine said its normalized net income for the first quarter amounted to a loss of €39,000, compared with income of €10,000 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin fell to negative 0.2% from 0.0% in the year-earlier period.
Total revenue fell 30.7% year over year to €19.6 million from €28.3 million, and total operating expenses decreased 30.5% year over year to €19.6 million from €28.2 million.
Reported net income increased 55.7% from the prior-year period to €109,000, or 1 cents per share, from €70,000, or 1 cents per share.