AS Ekspress Grupp said its normalized net income for the first quarter was €195,000, a decrease of 44.5% from €351,250 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 1.6% from 2.9% in the year-earlier period.
Total revenue climbed year over year to €12.3 million from €12.1 million, and total operating expenses rose on an annual basis to €11.9 million from €11.6 million.
Reported net income fell 43.9% year over year to €312,000, or 1 cents per share, from €556,000, or 2 cents per share.