Stoppoint SA said its normalized net income for the first quarter came to a loss of 32,760 zlotys, compared with a loss of 91,760 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 declined to negative 148.1% from negative 9.6% in the year-earlier period.

Total revenue declined 97.7% year over year to 22,130 zlotys from 960,020 zlotys, and total operating expenses declined 93.3% on an annual basis to 73,390 zlotys from 1.1 million zlotys.

Reported net income totaled a loss of 52,420 zlotys, or a loss of 0 groszy per share, compared to a loss of 146,820 zlotys, or a loss of 1 groszy per share, in the year-earlier period.

As of May 5, US$1 was equivalent to 3.88 zlotys.