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Astro swings to profit in Q1

Astro S.A. said its first-quarter normalized net income was 59,240 zlotys, compared with a loss of 298,700 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 climbed to 7.8% from negative 58.4% in the year-earlier period.

Total revenue grew 48.2% on an annual basis to 758,080 zlotys from 511,690 zlotys, and total operating expenses fell 33.7% year over year to 654,440 zlotys from 986,840 zlotys.

Reported net income came to 93,080 zlotys, compared with a loss of 477,920 zlotys, or a loss of 5 groszy per share, in the prior-year period.

As of May 16, US$1 was equivalent to 3.85 zlotys.