Sabaf SpA said its second-quarter normalized net income was 20 euro cents per share, a gain from 19 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.2 million, an increase from €2.2 million in the year-earlier period.

The normalized profit margin increased to 6.6% from 6.3% in the year-earlier period.

Total revenue declined year over year to €34.0 million from €35.0 million, and total operating expenses fell year over year to €30.4 million from €31.4 million.

Reported net income rose on an annual basis to €2.4 million, or 21 cents per share, from €2.3 million, or 20 cents per share.