Evrofarma SA said its normalized net income for the first half came to 2 euro cents per share, a decline of 50.3% from 5 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 €332,500, a decline of 50.3% from €669,380 in the prior-year period.

Total revenue declined 8.2% year over year to €13.3 million from €14.5 million, and total operating expenses declined year over year to €12.2 million from €12.8 million.

Reported net income fell 32.9% on an annual basis to €220,000, or 2 cents per share, from €328,000, or 2 cents per share.