Italy's Pininfarina says Q1 net loss narrows

MILAN Tue May 13, 2014 1:35pm EDT

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MILAN May 13 (Reuters) - Italian automotive design company Pininfarina said on Tuesday its net loss narrowed in the first quarter thanks to better financial management.

The company, which has designed cars for Ferrari, Maserati, Rolls-Royce, and Cadillac, among others, said in a statement its net loss decreased to 1.5 million euros ($2.1 million) from a loss of 3.4 million euros in the same period last year.

Pininfarina said it posted core earnings in the period of 0.3 million euros compared to a loss of 0.9 million euros the same period last year. ($1 = 0.7296 Euros) (Reporting by Stephen Jewkes, editing by Isla Binnie)

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