Surteco SE said its normalized net income for the first quarter was 49 euro cents per share, a gain of 26.0% from 39 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €7.6 million, an increase of 26.0% from €6.0 million in the year-earlier period.

The normalized profit margin rose to 4.6% from 3.7% in the year-earlier period.

Total revenue climbed on an annual basis to €166.4 million from €161.5 million, and total operating expenses rose year over year to €156.2 million from €149.4 million.

Reported net income increased 26.0% year over year to €8.4 million, or 54 cents per share, from €6.7 million, or 43 cents per share.