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Intersport Polska swings to loss in Q2

Intersport Polska S.A. said its normalized net income for the second quarter was a loss of 7 groszy per share, compared with 1 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 a loss of 973,750 zlotys, compared with income of 151,250 zlotys in the year-earlier period.

The normalized profit margin fell to negative 1.9% from 0.3% in the year-earlier period.

Total revenue declined 5.8% year over year to 52.0 million zlotys from 55.3 million zlotys, and total operating expenses declined from the prior-year period to 53.3 million zlotys from 54.4 million zlotys.

Reported net income totaled a loss of 1.3 million zlotys, or a loss of 9 groszy per share, compared to income of 139,330 zlotys, or 1 groszy per share, in the year-earlier period.

As of Aug. 30, US$1 was equivalent to 3.91 zlotys.