Geke SA said its first-quarter normalized net income was 6 euro cents per share, a gain from 2 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 €475,700, an increase from €159,300 in the year-earlier period.

The normalized profit margin increased to 29.6% from 8.8% in the year-earlier period.

Total revenue fell 10.9% year over year to €1.6 million from €1.8 million, and total operating expenses decreased 16.6% from the prior-year period to €1.2 million from €1.5 million.

Reported net income increased on an annual basis to €561,430, or 7 cents per share, from €188,610, or 2 cents per share.