TELES Aktiengesellschaft Informationstechnologien said its first-quarter normalized net income amounted to a loss of €86,250, compared with a loss of €677,500 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 4.8% from negative 53.1% in the year-earlier period.

Total revenue climbed 39.8% year over year to €1.8 million from €1.3 million, and total operating expenses declined 20.5% from the prior-year period to €1.9 million from €2.3 million.

Reported net income totaled a loss of €233,050, or a loss of 1 cents per share, compared to a loss of €1.2 million, or a loss of 5 cents per share, in the year-earlier period.