Wulff-Yhtiöt Oyj said its normalized net income for the second quarter came to a loss of €57,880, compared with a loss of €307,380 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 0.4% from negative 1.8% in the year-earlier period.

Total revenue fell 7.1% year over year to €16.3 million from €17.5 million, and total operating expenses decreased 9.8% year over year to €16.2 million from €17.9 million.

Reported net income came to a loss of €796,000, or a loss of 12 cents per share, compared to a loss of €425,000, or a loss of 7 cents per share, in the year-earlier period.