Novita SA said its normalized net income for the first quarter was 76 groszy per share, compared with 76 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 1.9 million zlotys, compared with 1.9 million zlotys in the year-earlier period.

The normalized profit margin climbed to 9.2% from 8.8% in the year-earlier period.

Total revenue fell on an annual basis to 20.5 million zlotys from 21.6 million zlotys, and total operating expenses declined 6.0% year over year to 17.4 million zlotys from 18.5 million zlotys.

Reported net income decreased 7.0% from the prior-year period to 2.3 million zlotys, or 92 groszy per share, from 2.5 million zlotys, or 99 groszy per share.

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