Pininfarina more than halves Q1 net losses

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MILAN (Reuters) -- Pininfarina says its net loss narrowed by 1.9 million euros in the first quarter thanks to better financial management.

The Italian automotive design company, which has designed cars for Ferrari, Maserati, Rolls-Royce, and Cadillac, among others, said 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 in the first quarter of 2013.

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