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Krynica Vitamin swings to loss in Q3

Krynica Vitamin S.A. said its third-quarter normalized net income was a loss of 52,500 zlotys, compared with income of 3.5 million 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 0.1% from 6.6% in the year-earlier period.

Total revenue fell 16.7% year over year to 44.2 million zlotys from 53.0 million zlotys, and total operating expenses decreased 6.8% from the prior-year period to 43.7 million zlotys from 46.9 million zlotys.

Reported net income totaled a loss of 617,000 zlotys, or a loss of 5 groszy per share, compared to income of 5.1 million zlotys, or 45 groszy per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to 4.12 zlotys.