Valsoia SpA said its first-quarter normalized net income came to €2.2 million, an increase of 19.1% from €1.9 million in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to 8.3% from 7.6% in the year-earlier period.
Total revenue grew 9.9% on an annual basis to €27.1 million from €24.6 million, and total operating expenses climbed 9.7% on an annual basis to €23.6 million from €21.5 million.
Reported net income came to €2.5 million, compared with €2.0 million in the year-earlier period.
