Pininfarina SpA said its normalized net income for the first quarter came to a loss of 6 euro cents per share, compared with a loss of 4 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 a loss of €1.8 million, compared with a loss of €1.3 million in the year-earlier period.

The normalized profit margin dropped to negative 10.5% from negative 7.6% in the year-earlier period.

Total revenue totaled €17.7 million, compared with €17.6 million in the prior-year period, and total operating expenses rose 6.1% from the prior-year period to €19.4 million from €18.3 million.

Reported net income totaled a loss of €2.6 million, or a loss of 9 cents per share, compared to a loss of €1.5 million, or a loss of 5 cents per share, in the prior-year period.