Krynica Vitamin S.A. said its normalized net income for the first quarter amounted to 12 groszy per share, a gain of 21.6% from 10 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.5 million zlotys, an increase of 31.1% from 1.1 million zlotys in the prior-year period.

The normalized profit margin increased to 4.0% from 3.5% in the year-earlier period.

Total revenue climbed 12.6% on an annual basis to 36.4 million zlotys from 32.3 million zlotys, and total operating expenses increased 10.8% year over year to 33.7 million zlotys from 30.4 million zlotys.

Reported net income increased 32.4% year over year to 1.7 million zlotys, or 14 groszy per share, from 1.3 million zlotys, or 11 groszy per share.

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