Piquadro SpA said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 1 euro cents per share, a decrease of 23.5% from 2 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 €958,500, a decrease from €973,130 in the prior-year period.
The normalized profit margin declined to 5.2% from 5.5% in the year-earlier period.
Total revenue increased 6.4% year over year to €18.8 million from €17.6 million, and total operating expenses increased 12.3% from the prior-year period to €17.6 million from €15.7 million.
Reported net income grew 22.0% from the prior-year period to €1.2 million, or 2 cents per share, from €958,820, or 2 cents per share.
For the year, the company's normalized net income totaled 7 cents per share, an increase of 9.2% from 7 cents per share in the prior year.
Normalized net income was €3.9 million, a rise of 12.2% from €3.5 million in the prior year.
Full-year total revenue rose 6.5% on an annual basis to €67.8 million from €63.6 million, and total operating expenses increased 7.8% year over year to €61.5 million from €57.1 million.
The company said reported net income increased 16.8% year over year to €4.1 million, or 8 cents per share, in the full year, from €3.5 million, or 7 cents per share.