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Interferie Q4 loss narrows YOY

Interferie SA said its normalized net income for the fourth quarter came to a loss of 2 groszy per share, compared with a loss of 3 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 275,630 zlotys, compared with a loss of 471,250 zlotys in the prior-year period.

The normalized profit margin climbed to negative 2.8% from negative 5.1% in the year-earlier period.

Total revenue rose 8.8% year over year to 10.0 million zlotys from 9.2 million zlotys, and total operating expenses climbed 8.5% from the prior-year period to 10.4 million zlotys from 9.5 million zlotys.

Reported net income came to a loss of 360,000 zlotys, or a loss of 2 groszy per share, compared to a loss of 716,000 zlotys, or a loss of 5 groszy per share, in the prior-year period.

For the year, the company's normalized net income totaled 28 groszy per share, an increase from 12 groszy per share in the prior year.

Normalized net income was 4.1 million zlotys, a gain from 1.8 million zlotys in the prior year.

Full-year total revenue increased 10.4% from the prior-year period to 45.0 million zlotys from 40.8 million zlotys, and total operating expenses grew 5.1% year over year to 40.6 million zlotys from 38.7 million zlotys.

The company said reported net income increased on an annual basis to 5.7 million zlotys, or 39 groszy per share, in the full year, from 2.5 million zlotys, or 17 groszy per share.

As of March 11, US$1 was equivalent to 3.85 zlotys.