Fourlis Holdings SA said its first-quarter normalized net income came to a loss of 7 euro cents per share, compared with a loss of 7 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 a loss of €3.6 million, compared with a loss of €3.5 million in the prior-year period.

The normalized profit margin increased to negative 4.1% from negative 4.3% in the year-earlier period.

Total revenue grew 8.6% on an annual basis to €88.6 million from €81.5 million, and total operating expenses grew 7.9% on an annual basis to €90.5 million from €83.8 million.

Reported net income totaled a loss of €4.8 million, or a loss of 9 cents per share, compared to a loss of €3.9 million, or a loss of 8 cents per share, in the prior-year period.