Windeln.de AG said its first-quarter normalized net income amounted to a loss of 23 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 24 cents per share.

The per-share loss grew 23.1% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €6.1 million, compared with a loss of €3.9 million in the prior-year period.

The normalized profit margin fell to negative 13.2% from negative 11.0% in the year-earlier period.

Total revenue rose 46.2% on an annual basis to €52.1 million from €35.6 million, and total operating expenses increased 47.6% on an annual basis to €61.9 million from €41.9 million.

Reported net income totaled a loss of €9.7 million, or a loss of 37 cents per share, compared to a loss of €6.5 million, or a loss of 31 cents per share, in the prior-year period.