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Netmedia Q3 profit falls YOY

Netmedia Spólka Akcyjna said its third-quarter normalized net income came to 6 groszy per share, a decrease of 42.1% 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 503,250 zlotys, a decline of 59.4% from 1.2 million zlotys in the year-earlier period.

The normalized profit margin dropped to negative 4.1% from 2.6% in the year-earlier period.

Total revenue totaled 46.8 million zlotys, compared with 47.2 million zlotys in the year-earlier period, and total operating expenses totaled 45.5 million zlotys, compared with 45.3 million zlotys in the year-earlier period.

Reported net income fell 55.8% on an annual basis to 792,000 zlotys, or 9 groszy per share, from 1.8 million zlotys, or 15 groszy per share.

As of Nov. 14, US$1 was equivalent to 4.12 zlotys.