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Exceet Group SE Q1 loss narrows YOY

exceet Group SE said its normalized net income for the first quarter was a loss of €194,380, compared with a loss of €2.3 million in the prior-year period.

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

The normalized profit margin increased to negative 0.6% from negative 6.4% in the year-earlier period.

Total revenue fell 11.5% on an annual basis to €31.5 million from €35.6 million, and total operating expenses decreased 9.8% from the prior-year period to €31.7 million from €35.1 million.

Reported net income totaled a loss of €461,000, or a loss of 1 cents per share, compared to a loss of €3.9 million, or a loss of 11 cents per share, in the prior-year period.