EL. D. Mouzakis SA said its normalized net income for the second quarter was a loss of €178,550, compared with a loss of €482,920 in the year-earlier period.

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

The normalized profit margin climbed to negative 13.4% from negative 22.4% in the year-earlier period.

Total revenue declined year over year to €2.1 million from €2.2 million, and total operating expenses declined 20.4% from the prior-year period to €2.3 million from €2.9 million.

Reported net income came to a loss of €315,980, or a loss of 1 cents per share, compared to a loss of €774,270, or a loss of 2 cents per share, in the year-earlier period.