Dantax A/S said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 1.52 Danish kroner per share, a decline of 50.3% from 3.06 kroner per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 452,500 kroner, a decrease of 49.7% from 899,380 kroner in the year-earlier period.

The normalized profit margin declined to 2.8% from 4.7% in the year-earlier period.

Total revenue declined 11.1% year over year to 17.1 million kroner from 19.2 million kroner, and total operating expenses fell 11.3% year over year to 15.7 million kroner from 17.7 million kroner.

Reported net income fell 61.3% from the prior-year period to 386,000 kroner, or 1.30 kroner per share, from 998,000 kroner, or 3.40 kroner per share.

As of Feb. 23, US$1 was equivalent to 6.77 Danish kroner.