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SferaNet Q1 profit climbs 15.9% YOY

SferaNet Spólka Akcyjna said its first-quarter normalized net income came to 37,450 zlotys, a rise of 15.9% from 32,320 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 fell to 5.9% from 6.2% in the year-earlier period.

Total revenue grew 22.6% on an annual basis to 638,580 zlotys from 520,890 zlotys, and total operating expenses rose 22.1% on an annual basis to 553,950 zlotys from 453,560 zlotys.

Reported net income increased 36.6% on an annual basis to 59,930 zlotys, or 1 groszy per share, from 43,870 zlotys.

As of May 13, US$1 was equivalent to 3.90 zlotys.