Lentex S.A. said its first-quarter normalized net income came to 11 groszy per share, a gain of 28.2% from 8 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.9 million zlotys, a gain of 10.1% from 5.4 million zlotys in the prior-year period.

The normalized profit margin dropped to 6.3% from 7.0% in the year-earlier period.

Total revenue climbed 19.4% on an annual basis to 92.0 million zlotys from 77.1 million zlotys, and total operating expenses climbed 19.9% year over year to 81.7 million zlotys from 68.1 million zlotys.

Reported net income rose 32.7% year over year to 9.2 million zlotys, or 17 groszy per share, from 7.0 million zlotys, or 11 groszy per share.

As of May 15, US$1 was equivalent to 3.54 zlotys.