Intralot S.A. Integrated Lottery Systems and Services said its normalized net income for the first quarter came to a loss of €2.1 million, compared with a loss of €926,250 in the prior-year period.

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

The normalized profit margin declined to negative 0.6% from negative 0.2% in the year-earlier period.

Total revenue rose 12.0% year over year to €499.4 million from €445.7 million, and total operating expenses rose 14.3% from the prior-year period to €474.2 million from €414.8 million.

Reported net income totaled a loss of €8.9 million, or a loss of 6 cents per share, compared to a loss of €8.5 million, or a loss of 5 cents per share, in the prior-year period.