Avenir Telecom SA said its normalized net income for the fiscal second half ended March 31 was a loss of 15 euro cents per share, compared with a loss of 11 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 a loss of €13.8 million, compared with a loss of €10.6 million in the prior-year period.

Total revenue fell 39.5% on an annual basis to €75.5 million from €124.8 million, and total operating expenses declined 31.1% on an annual basis to €97.3 million from €141.2 million.

Reported net income totaled a loss of €29.8 million, or a loss of 32 cents per share, compared to a loss of €39.4 million, or a loss of 43 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 16 cents per share, compared with a loss of 14 cents per share in the prior year.

Normalized net income was a loss of €14.9 million, compared with a loss of €13.0 million in the prior year.

Full-year total revenue fell 34.2% from the prior-year period to €168.6 million from €256.2 million, and total operating expenses fell 30.7% year over year to €191.0 million from €275.6 million.

The company said reported net income came to a loss of €32.3 million, or a loss of 35 cents per share, in the full year, compared with a loss of €43.9 million, or a loss of 47 cents per share, the prior year.