SC UAMT SA said its first-quarter normalized net income came to 3 Romanian bani per share, a decline of 26.8% from 4 bani per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.1 million lei, a decline of 26.6% from 1.4 million lei in the prior-year period.

The normalized profit margin declined to 3.6% from 4.6% in the year-earlier period.

Total revenue decreased 5.8% on an annual basis to 29.5 million lei from 31.3 million lei, and total operating expenses decreased on an annual basis to 27.7 million lei from 29.0 million lei.

Reported net income decreased 26.3% year over year to 1.4 million lei, or 4 bani per share, from 1.9 million lei, or 5 bani per share.

As of May 13, US$1 was equivalent to 3.98 Romanian lei.