United Labels AG said its first-quarter normalized net income amounted to a loss of 5 euro cents per share, compared with a loss of 6 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 €222,120, compared with a loss of €269,510 in the prior-year period.

The normalized profit margin increased to negative 2.9% from negative 4.1% in the year-earlier period.

Total revenue rose 16.5% on an annual basis to €7.7 million from €6.6 million, and total operating expenses increased 12.2% on an annual basis to €7.9 million from €7.0 million.

Reported net income totaled a loss of €335,750, or a loss of 7 cents per share, compared to a loss of €456,920, or a loss of 11 cents per share, in the year-earlier period.