Casa de Bucovina - Club de Munte SA said its normalized net income for the second quarter was 144,020 lei, a decrease of 19.0% from 177,760 lei in the prior-year period.

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

The normalized profit margin fell to 6.6% from 8.7% in the year-earlier period.

Total revenue grew 7.5% on an annual basis to 2.2 million lei from 2.0 million lei, and total operating expenses rose 12.7% year over year to 2.0 million lei from 1.8 million lei.

Reported net income came to 198,510 lei, compared with 248,630 lei in the year-earlier period.

As of Aug. 12, US$1 was equivalent to 3.99 Romanian lei.