Windeln.de AG said its first-quarter normalized net income was a loss of 16 euro cents per share, compared with a loss of 8 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €3.2 million, compared with a loss of €1.8 million in the prior-year period.

The normalized profit margin declined to negative 11.0% from negative 9.7% in the year-earlier period.

Total revenue grew 86.8% on an annual basis to €35.6 million from €19.1 million, and total operating expenses increased 85.1% year over year to €40.7 million from €22.0 million.

Reported net income came to a loss of €5.4 million, or a loss of 27 cents per share, compared to a loss of €670,000, or a loss of 3 cents per share, in the year-earlier period.