Kraft Heinz Intermediate Corp. II said its normalized net income for the fiscal first quarter ended March 29 was 25 cents per share, a decrease of 5.2% from 27 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 $228.9 million, a decline of 4.9% from $240.8 million in the year-earlier period.

The normalized profit margin rose to 9.7% from 8.6% in the year-earlier period.

Total revenue declined 11.5% on an annual basis to $2.48 billion from $2.80 billion, and total operating expenses fell 12.6% from the prior-year period to $1.95 billion from $2.23 billion.

Reported net income grew year over year to $98.9 million, or 11 cents per share, from $17.9 million, or 2 cents per share.