Sociedad Pesquera Coloso SA said its first-quarter normalized net income came to a loss of $2.1 million, compared with a loss of $40,630 in the year-earlier period.

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

Total revenue declined year over year to $156,000 from $159,000, and total operating expenses decreased 11.2% on an annual basis to $492,000 from $554,000.

Reported net income came to a loss of $3.3 million, or a loss of 2 cents per share, compared to income of $331,000, or 0 cents per share, in the prior-year period.