Sabaf SpA said its third-quarter normalized net income was €2.0 million, an increase of 17.5% from €1.7 million in the prior-year period.

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

The normalized profit margin climbed to 6.3% from 5.6% in the year-earlier period.

Total revenue increased year over year to €32.1 million from €30.7 million, and total operating expenses increased on an annual basis to €29.0 million from €27.8 million.

Reported net income totaled €2.3 million, compared with €1.8 million in the prior-year period.