Kamux Oyj said its first-quarter normalized net income was 6 euro cents per share, a gain of 9.2% from 6 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 €2.3 million, an increase from €2.2 million in the year-earlier period.

The normalized profit margin dropped to 2.4% from 3.2% in the year-earlier period.

Total revenue grew 41.6% year over year to €97.0 million from €68.5 million, and total operating expenses rose 43.4% year over year to €93.1 million from €64.9 million.

Reported net income declined from the prior-year period to €2.6 million, or 7 cents per share, from €2.8 million, or 7 cents per share.