Ahlers AG said its normalized net income for the fiscal first quarter ended Feb. 28 was €3.0 million, a decrease of 29.0% from €4.3 million 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 4.5% from 5.9% in the year-earlier period.
Total revenue decreased 7.2% on an annual basis to €67.7 million from €73.0 million, and total operating expenses fell year over year to €62.6 million from €65.8 million.
Reported net income totaled €3.4 million, compared with €4.8 million in the prior-year period.
