Class Editori S.p.A. said its first-quarter normalized net income amounted to €2.2 million, compared with a loss of €2.1 million in the year-earlier period.

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

The normalized profit margin fell to negative 12.2% from negative 11.4% in the year-earlier period.

Total revenue fell year over year to €17.9 million from €18.8 million, and total operating expenses decreased year over year to €20.7 million from €21.1 million.

Reported net income totaled a loss of €3.7 million, compared with a loss of €3.3 million in the year-earlier period.