LK Designer Shops SA said its normalized net income for the first quarter amounted to a loss of 147,420 zlotys, compared with a loss of 204,700 zlotys in the prior-year period.

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

The normalized profit margin increased to negative 12.9% from negative 57.7% in the year-earlier period.

Total revenue grew year over year to 1.1 million zlotys from 354,620 zlotys, and total operating expenses grew from the prior-year period to 1.3 million zlotys from 648,140 zlotys.

Reported net income totaled a loss of 235,870 zlotys, or a loss of 24 groszy per share, compared to a loss of 327,520 zlotys in the year-earlier period.

As of May 26, US$1 was equivalent to 3.80 zlotys.