Perseus SA said its normalized net income for the third quarter amounted to 8 euro cents per share, a decline of 16.3% from 9 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 €1.3 million, a decline of 16.3% from €1.6 million in the year-earlier period.

The normalized profit margin dropped to 6.6% from 7.4% in the year-earlier period.

Total revenue decreased 6.2% on an annual basis to €20.1 million from €21.5 million, and total operating expenses declined from the prior-year period to €17.3 million from €18.1 million.

Reported net income fell 38.4% year over year to €1.3 million, or 8 cents per share, from €2.2 million, or 13 cents per share.