APB Apranga said its first-quarter normalized net income amounted to 1 euro cents per share, a decrease of 52.6% from 2 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 €492,500, a decrease of 61.6% from €1.3 million in the year-earlier period.
The normalized profit margin fell to 1.5% from 4.2% in the year-earlier period.
Total revenue increased 9.9% on an annual basis to €33.6 million from €30.6 million, and total operating expenses rose 14.7% year over year to €32.8 million from €28.6 million.
Reported net income declined 73.0% on an annual basis to €465,000, or 1 cent per share, from €1.7 million, or 3 cents per share.
