Exprivia SpA said its first-quarter normalized net income was €92,540, a decline of 81.3% from €495,950 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 0.3% from 1.5% in the year-earlier period.
Total revenue decreased 5.4% year over year to €32.0 million from €33.9 million, and total operating expenses decreased year over year to €31.3 million from €32.6 million.
Reported net income totaled a loss of €287,190, or a loss of 1 cents per share, compared to a loss of €183,560, or a loss of 0 cents per share, in the prior-year period.