Fachowcy.pl Ventures S.A. said its normalized net income for the first quarter came to a loss of 758,960 zlotys, compared with a loss of 1.8 million zlotys in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin was 94.5%.
Total revenue increased 82.0% on an annual basis to 803,470 zlotys from 441,480 zlotys, and total operating expenses fell 33.3% year over year to 2.1 million zlotys from 3.2 million zlotys.
Reported net income came to a loss of 1.3 million zlotys, or a loss of 1 groszy per share, compared to a loss of 2.8 million zlotys, or a loss of 4 groszy per share, in the year-earlier period.
As of May 16, US$1 was equivalent to 3.85 zlotys.