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Digital Avenue Q1 loss narrows YOY

Digital Avenue S.A. said its normalized net income for the first quarter was a loss of 3,630 zlotys, compared with a loss of 177,120 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 climbed to negative 0.8% from negative 43.5% in the year-earlier period.

Total revenue rose 5.8% year over year to 430,740 zlotys from 406,990 zlotys, and total operating expenses declined 36.8% year over year to 436,420 zlotys from 690,310 zlotys.

Reported net income came to a loss of 12,030 zlotys, or a loss of 0 groszy per share, compared to a loss of 4,930 zlotys, or a loss of 0 groszy per share, in the prior-year period.

As of May 13, US$1 was equivalent to 3.90 zlotys.