Barón de Ley SA said its normalized net income for the second quarter came to €1.04 per share, a decline of 25.7% from €1.40 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.5 million, a decrease of 25.7% from €6.0 million in the prior-year period.
The normalized profit margin dropped to 19.0% from 27.9% in the year-earlier period.
Total revenue rose 9.3% year over year to €23.6 million from €21.6 million, and total operating expenses climbed 23.8% on an annual basis to €25.0 million from €20.2 million.
Reported net income decreased 19.3% from the prior-year period to €5.4 million, or €1.25 per share, from €6.7 million, or €1.55 per share.