Sporttotal AG said its normalized net income for the first quarter amounted to €2.3 million, compared with a loss of €1.8 million in the year-earlier period.

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

The normalized profit margin declined to negative 22.5% from negative 14.2% in the year-earlier period.

Total revenue declined 20.9% year over year to €10.3 million from €13.0 million, and total operating expenses decreased 12.6% on an annual basis to €13.8 million from €15.8 million.

Reported net income came to a loss of €3.7 million, compared with a loss of €2.9 million in the prior-year period.