Intersport Polska SA said its normalized net income for the first quarter amounted to 5 groszy per share, an increase of 97.4% from 2 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 672,500 zlotys, an increase of 97.4% from 340,630 zlotys in the year-earlier period.

The normalized profit margin increased to 1.2% from 0.6% in the year-earlier period.

Total revenue decreased 6.3% year over year to 56.0 million zlotys from 59.8 million zlotys, and total operating expenses decreased 6.8% year over year to 54.7 million zlotys from 58.7 million zlotys.

Reported net income grew from the prior-year period to 836,000 zlotys, or 6 groszy per share, from 418,000 zlotys, or 3 groszy per share.

As of May 29, US$1 was equivalent to 3.75 zlotys.