Bernard Loiseau SA said its first-half normalized net income came to a loss of 28 euro cents per share, compared with a loss of 1 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 €396,250, compared with a loss of €18,750 in the year-earlier period.

Total revenue declined 6.3% on an annual basis to €4.4 million from €4.7 million, and total operating expenses climbed 6.3% on an annual basis to €5.1 million from €4.8 million.

Reported net income came to a loss of €398,000, or a loss of 28 cents per share, compared to income of €2,000, or 0 cents per share, in the year-earlier period.