Decora SA said its normalized net income for the first quarter was 14 groszy per share, a decline of 20.5% from 17 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 1.5 million zlotys, a decrease of 20.5% from 1.9 million zlotys in the prior-year period.
The normalized profit margin dropped to 3.3% from 3.9% in the year-earlier period.
Total revenue fell year over year to 47.1 million zlotys from 49.4 million zlotys, and total operating expenses decreased year over year to 44.6 million zlotys from 46.3 million zlotys.
Reported net income rose 96.1% year over year to 4.6 million zlotys, or 41 groszy per share, from 2.4 million zlotys, or 21 groszy per share.
As of May 13, US$1 was equivalent to 3.90 zlotys.