Auga Group AB said its second-quarter normalized net income came to €269,380, a decline of 81.2% from €1.4 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 dropped to 2.8% from 18.2% in the year-earlier period.

Total revenue climbed 16.7% year over year to €9.2 million from €7.8 million, and total operating expenses increased 63.3% from the prior-year period to €8.4 million from €5.1 million.

Reported net income declined 80.4% on an annual basis to €448,000, or 0 cents per share, from €2.3 million, or 1 cents per share.