Centrale del Latte d'Italia SpA said its normalized net income for the first quarter was €549,380, a rise from €132,500 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to 2.2% from 0.5% in the year-earlier period.
Total revenue decreased 5.5% on an annual basis to €24.5 million from €25.9 million, and total operating expenses declined 8.3% on an annual basis to €23.4 million from €25.5 million.
Reported net income came to €879,000, compared with €212,000 in the prior-year period.
