S.C. Conted SA said its first-quarter normalized net income came to 1.34 Romanian lei per share, a decline of 20.1% from 1.68 lei per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 321,530 lei, a decline of 20.1% from 402,430 lei in the year-earlier period.

The normalized profit margin dropped to 5.5% from 7.6% in the year-earlier period.

Total revenue increased 9.5% year over year to 5.8 million lei from 5.3 million lei, and total operating expenses increased 12.8% from the prior-year period to 5.3 million lei from 4.7 million lei.

Reported net income declined 18.5% year over year to 440,430 lei, or 1.84 lei per share, from 540,530 lei, or 2.26 lei per share.

As of May 16, US$1 was equivalent to 3.96 Romanian lei.