Wolford AG said its normalized net income for the fiscal first quarter ended July 31 amounted to a loss of 56 euro cents per share, compared with a loss of 5 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 €2.7 million, compared with a loss of €249,380 in the prior-year period.

The normalized profit margin fell to negative 8.0% from negative 0.8% in the year-earlier period.

Total revenue increased 6.5% on an annual basis to €34.0 million from €31.9 million, and total operating expenses rose 18.6% from the prior-year period to €38.2 million from €32.2 million.

Reported net income came to a loss of €2.6 million, or a loss of 52 cents per share, compared to income of €1.5 million, or 30 cents per share, in the year-earlier period.