QSC AG said its first-quarter normalized net income came to a loss of €573,750, compared with a loss of €2.8 million in the year-earlier period.

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

The normalized profit margin rose to negative 0.5% from negative 2.6% in the year-earlier period.

Total revenue decreased 5.6% on an annual basis to €98.9 million from €104.7 million, and total operating expenses decreased 8.8% on an annual basis to €98.2 million from €107.7 million.

Reported net income totaled a loss of €143,000, or a loss of 0 cents per share, compared to a loss of €3.4 million, or a loss of 3 cents per share, in the prior-year period.