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Symbio Polska swings to loss in Q3

Symbio Polska SA said its normalized net income for the third quarter came to a loss of 2 groszy per share, compared with 4 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 139,250 zlotys, compared with income of 147,100 zlotys in the year-earlier period.

The normalized profit margin declined to negative 2.2% from 2.2% in the year-earlier period.

Total revenue fell on an annual basis to 6.5 million zlotys from 6.6 million zlotys, and total operating expenses grew 6.1% on an annual basis to 6.6 million zlotys from 6.2 million zlotys.

Reported net income came to a loss of 226,610 zlotys, or a loss of 3 groszy per share, compared to income of 193,050 zlotys, or 6 groszy per share, in the prior-year period.

As of Nov. 10, US$1 was equivalent to 4.02 zlotys.