Casa de Bucovina - Club de Munte SA said its third-quarter normalized net income came to 467,400 lei, a fall of 9.1% from 514,210 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 dropped to 19.9% from 22.4% in the year-earlier period.

Total revenue climbed on an annual basis to 2.3 million lei from 2.3 million lei, and total operating expenses increased 5.1% from the prior-year period to 1.7 million lei from 1.6 million lei.

Reported net income came to 712,050 lei, compared with 790,500 lei in the year-earlier period.

As of Nov. 12, US$1 was equivalent to 4.13 Romanian lei.