AS PRFoods said its normalized net income for the first quarter was a loss of €353,130, compared with a loss of €479,380 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 3.5% from negative 4.7% in the year-earlier period.

Total revenue came to €10.2 million, compared with €10.3 million in the prior-year period, and total operating expenses declined year over year to €10.8 million from €11.2 million.

Reported net income came to a loss of €464,000, or a loss of 1 cents per share, compared to a loss of €539,000, or a loss of 1 cents per share, in the prior-year period.