Wistil SpA said its third-quarter normalized net income amounted to 93 groszy per share, a decline of 47.4% from 1.77 zlotys per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 935,250 zlotys, a decline of 47.3% from 1.8 million zlotys in the year-earlier period.

The normalized profit margin dropped to 1.6% from 3.0% in the year-earlier period.

Total revenue increased year over year to 59.9 million zlotys from 58.5 million zlotys, and total operating expenses rose from the prior-year period to 58.3 million zlotys from 56.6 million zlotys.

Reported net income fell 44.2% on an annual basis to 1.4 million zlotys, or 1.37 zlotys per share, from 2.5 million zlotys, or 2.46 zlotys per share.

As of Nov. 13, US$1 was equivalent to 3.95 zlotys.