AB Utenos Trikotazas said its third-quarter normalized net income came to 4 euro cents per share, an increase of 48.2% from 3 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 €393,880, a gain of 48.2% from €265,750 in the year-earlier period.

The normalized profit margin rose to 5.7% from 4.7% in the year-earlier period.

Total revenue increased 24.0% year over year to €7.0 million from €5.6 million, and total operating expenses increased 22.2% year over year to €6.3 million from €5.1 million.

Reported net income increased 37.6% year over year to €641,000, or 7 cents per share, from €466,000, or 5 cents per share.