Harper Hygienics SA said its first-quarter normalized net income came to a loss of 1.8 million zlotys, compared with a loss of 390,060 zlotys in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 3.6% from negative 0.9% in the year-earlier period.

Total revenue grew 16.4% on an annual basis to 49.1 million zlotys from 42.2 million zlotys, and total operating expenses climbed 21.1% on an annual basis to 51.1 million zlotys from 42.2 million zlotys.

Reported net income totaled 33,300 zlotys, or 0 groszy per share, compared to a loss of 1.4 million zlotys, or a loss of 2 groszy per share, in the prior-year period.

As of May 13, US$1 was equivalent to 3.90 zlotys.