United Labels AG said its first-quarter normalized net income was €57,600, compared with a loss of €222,120 in the year-earlier period.

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

The normalized profit margin increased to 0.6% from negative 2.9% in the year-earlier period.

Total revenue rose 20.6% year over year to €9.3 million from €7.7 million, and total operating expenses increased 14.8% from the prior-year period to €9.0 million from €7.9 million.

Reported net income totaled €63,000, or 1 cents per share, compared to a loss of €335,750, or a loss of 7 cents per share, in the prior-year period.