CSP International Fashion Group S.p.A. said its normalized net income for the third quarter was 9 euro cents per share, a decline of 17.9% from 11 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.9 million, a decrease of 18.2% from €3.5 million in the year-earlier period.

The normalized profit margin dropped to 8.5% from 10.5% in the year-earlier period.

Total revenue climbed year over year to €34.0 million from €33.6 million, and total operating expenses grew from the prior-year period to €29.3 million from €27.9 million.

Reported net income declined 15.6% on an annual basis to €3.1 million, or 9 cents per share, from €3.7 million, or 11 cents per share.