S.C. Boromir Prod SA said its first-quarter normalized net income amounted to 1.0 million lei, a decrease of 8.2% from 1.1 million lei in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.4% from 2.4% in the year-earlier period.

Total revenue fell 65.0% year over year to 15.9 million lei from 45.5 million lei, and total operating expenses decreased 67.3% year over year to 14.3 million lei from 43.7 million lei.

Reported net income fell 12.3% on an annual basis to 1.6 million lei, or 1 bani per share, from 1.8 million lei, or 1 bani per share.

As of May 19, US$1 was equivalent to 4.02 Romanian lei.