B&C Speakers SpA said its normalized net income for the second quarter amounted to 12 euro cents per share, a decline of 11.9% from 13 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.3 million, a decline of 11.2% from €1.5 million in the prior-year period.
The normalized profit margin dropped to 13.2% from 14.8% in the year-earlier period.
Total revenue came to €9.9 million, compared with €9.9 million in the year-earlier period, and total operating expenses grew on an annual basis to €7.7 million from €7.5 million.
Reported net income decreased 9.0% year over year to €1.4 million, or 13 cents per share, from €1.5 million, or 14 cents per share.