G.E. Dimitriou Commercial Co. SA said its normalized net income for the first quarter was a loss of 2 euro cents per share, compared with a loss of 1 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €1.3 million, compared with a loss of €1.0 million in the prior-year period.

The normalized profit margin dropped to negative 32.2% from negative 22.8% in the year-earlier period.

Total revenue declined 11.5% on an annual basis to €4.1 million from €4.6 million, and total operating expenses climbed on an annual basis to €5.7 million from €5.6 million.

Reported net income came to a loss of €1.9 million, or a loss of 2 cents per share, compared to a loss of €1.7 million, or a loss of 2 cents per share, in the prior-year period.