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SoftBlue Q1 loss widens YOY

SoftBlue SA said its normalized net income for the first quarter came to a loss of 89,520 zlotys, compared with a loss of 87,080 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 increased to negative 7.4% from negative 9.8% in the year-earlier period.

Total revenue grew 35.7% year over year to 1.2 million zlotys from 888,910 zlotys, and total operating expenses rose 31.3% on an annual basis to 1.3 million zlotys from 1.0 million zlotys.

Reported net income totaled a loss of 143,230 zlotys, or a loss of 1 groszy per share, compared to a loss of 139,330 zlotys in the year-earlier period.

As of May 17, US$1 was equivalent to 3.86 zlotys.