QPR Software Oyj said its first-quarter normalized net income came to a loss of €76,880, compared with income of €170,000 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 3.8% from 6.7% in the year-earlier period.

Total revenue fell 19.1% year over year to €2.0 million from €2.5 million, and total operating expenses fell 5.2% on an annual basis to €2.1 million from €2.3 million.

Reported net income totaled a loss of €105,000, or a loss of 1 cents per share, compared to income of €225,000, or 2 cents per share, in the year-earlier period.