Vista Alegre Atlantis SGPS SA said its normalized net income for the first quarter amounted to a loss of €934,130, compared with a loss of €1.3 million 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 negative 5.6% from negative 7.9% in the year-earlier period.

Total revenue climbed year over year to €16.8 million from €16.5 million, and total operating expenses declined from the prior-year period to €17.5 million from €17.7 million.

Reported net income totaled a loss of €1.7 million, or a loss of 0 cents per share, compared to a loss of €2.1 million, or a loss of 0 cents per share, in the prior-year period.