Protektor SA said its normalized net income for the third quarter was 7 groszy per share, a decrease of 36.1% from 11 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 1.4 million zlotys, a decline of 36.1% from 2.2 million zlotys in the year-earlier period.

The normalized profit margin dropped to 5.5% from 8.0% in the year-earlier period.

Total revenue decreased 8.4% on an annual basis to 24.7 million zlotys from 27.0 million zlotys, and total operating expenses declined 5.3% on an annual basis to 22.4 million zlotys from 23.7 million zlotys.

Reported net income declined 45.5% year over year to 1.1 million zlotys, or 6 groszy per share, from 2.1 million zlotys, or 11 groszy per share.

As of Nov. 16, US$1 was equivalent to 3.96 zlotys.