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Harper Hygienics swings to loss in Q3

Harper Hygienics SA said its normalized net income for the third quarter was a loss of 167,190 zlotys, compared with income of 2.2 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 fell to negative 0.3% from 3.8% in the year-earlier period.

Total revenue declined 10.7% year over year to 52.2 million zlotys from 58.4 million zlotys, and total operating expenses declined year over year to 51.0 million zlotys from 53.5 million zlotys.

Reported net income totaled a loss of 99,900 zlotys, or a loss of 0 groszy per share, compared to income of 3.9 million zlotys, or 6 groszy per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 3.95 zlotys.