Yalco-Socrates D. Constantinou & Son SA said its first-quarter normalized net income amounted to a loss of 5 euro cents per share, compared with a loss of 5 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 a loss of €650,410, compared with a loss of €647,200 in the year-earlier period.

The normalized profit margin fell to negative 12.0% from negative 11.3% in the year-earlier period.

Total revenue fell 5.7% on an annual basis to €5.4 million from €5.7 million, and total operating expenses declined 5.9% year over year to €5.8 million from €6.1 million.

Reported net income came to a loss of €1.0 million, or a loss of 8 cents per share, compared to a loss of €1.0 million, or a loss of 8 cents per share, in the year-earlier period.