J. Boutaris & Son Holding SA said its normalized net income for the first quarter came to a loss of 2 euro cents per share, compared with a loss of 1 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 a loss of €381,130, compared with a loss of €367,750 in the prior-year period.

The normalized profit margin declined to negative 14.2% from negative 13.6% in the year-earlier period.

Total revenue totaled €2.7 million, compared with €2.7 million in the year-earlier period, and total operating expenses grew year over year to €3.3 million from €3.2 million.

Reported net income totaled a loss of €667,000, or a loss of 3 cents per share, compared to a loss of €317,000, or a loss of 1 cents per share, in the prior-year period.