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Global Cosmed swings to loss in Q3

Global Cosmed S.A. said its third-quarter normalized net income amounted to a loss of 323,630 zlotys, compared with income of 535,630 zlotys in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 0.4% from 0.9% in the year-earlier period.

Total revenue grew 34.2% year over year to 83.0 million zlotys from 61.9 million zlotys, and total operating expenses climbed 37.6% on an annual basis to 83.8 million zlotys from 60.9 million zlotys.

Reported net income totaled a loss of 860,760 zlotys, or a loss of 1 groszy per share, compared to income of 710,670 zlotys, or 2 groszy per share, in the prior-year period.

As of Nov. 4, US$1 was equivalent to 3.89 zlotys.