AS Siguldas Ciltslietu Un Maksligas Apseklosanas Stacija said its third-quarter normalized net income came to 8 euro cents per share, a decline of 24.6% from 10 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 €32,110, a decrease of 24.6% from €42,570 in the year-earlier period.

The normalized profit margin declined to 10.7% from 13.1% in the year-earlier period.

Total revenue declined 8.4% year over year to €298,580 from €325,950, and total operating expenses declined from the prior-year period to €249,020 from €257,250.

Reported net income decreased 32.6% year over year to €43,450, or 10 cents per share, from €64,430, or 15 cents per share.