FullSix S.p.A. said its normalized net income for the first quarter came to €11,250, a decline of 32.4% from €16,630 in the year-earlier period.

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

The normalized profit margin declined to 0.1% from 0.3% in the year-earlier period.

Total revenue rose 35.4% on an annual basis to €7.6 million from €5.6 million, and total operating expenses climbed 35.6% from the prior-year period to €7.5 million from €5.5 million.

Reported net income rose from the prior-year period to €52,000, or 0 cents per share, from €5,000, or 0 cents per share.