S.C. Bermas SA said its third-quarter normalized net income came to 1.3 million lei, a decline of 8.8% from 1.5 million lei in the year-earlier period.

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

The normalized profit margin dropped to 13.0% from 14.9% in the year-earlier period.

Total revenue rose year over year to 10.4 million lei from 9.9 million lei, and total operating expenses increased 8.7% on an annual basis to 7.8 million lei from 7.2 million lei.

Reported net income totaled 1.8 million lei, compared with 2.0 million lei in the year-earlier period.

As of Nov. 15, US$1 was equivalent to 4.21 Romanian lei.