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Eskimos SA swings to profit in Q3

Eskimos SA said its third-quarter normalized net income amounted to 57,500 zlotys, compared with a loss of 81,250 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 rose to 0.5% from negative 0.7% in the year-earlier period.

Total revenue rose 5.9% on an annual basis to 12.2 million zlotys from 11.5 million zlotys, and total operating expenses grew 6.3% year over year to 12.1 million zlotys from 11.4 million zlotys.

Reported net income totaled 68,000 zlotys, or 0 groszy per share, compared to a loss of 136,000 zlotys in the year-earlier period.

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