SIF Hoteluri SA said its third-quarter normalized net income was a loss of 42,190 lei, compared with a loss of 624,370 lei in the year-earlier period.

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

The normalized profit margin climbed to negative 0.4% from negative 23.4% in the year-earlier period.

Total revenue increased year over year to 5.8 million lei from 2.7 million lei, and total operating expenses climbed 60.5% year over year to 5.9 million lei from 3.7 million lei.

Reported net income totaled a loss of 67,510 lei, or a loss of 0 bani per share, compared to a loss of 998,990 lei, or a loss of 5 bani per share, in the prior-year period.

As of Nov. 15, US$1 was equivalent to 4.21 Romanian lei.