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Prima Moda swings to profit in Q3

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Prima Moda swings to profit in Q3

Prima Moda SA said its third-quarter normalized net income came to 2.00 zlotys per share, compared with a loss of 38 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.4 million zlotys, compared with a loss of 1.2 million zlotys in the prior-year period.

The normalized profit margin climbed to 72.6% from negative 13.9% in the year-earlier period.

Total revenue totaled 8.8 million zlotys, compared with 8.9 million zlotys in the year-earlier period.

Reported net income totaled 10.4 million zlotys, or 3.25 zlotys per share, compared to a loss of 2.0 million zlotys, or a loss of 62 groszy per share, in the prior-year period.

As of Oct. 20, US$1 was equivalent to 3.96 zlotys.