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Pharmena Q3 profit climbs YOY

Pharmena SA said its normalized net income for the third quarter amounted to 111,880 zlotys, a gain from 2,500 zlotys in the year-earlier period.

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

The normalized profit margin climbed to 2.5% from 0.1% in the year-earlier period.

Total revenue decreased 5.1% year over year to 4.5 million zlotys from 4.7 million zlotys, and total operating expenses declined 10.0% on an annual basis to 4.2 million zlotys from 4.7 million zlotys.

Reported net income came to 33,000 zlotys, or 0 groszy per share, compared to a loss of 88,000 zlotys, or a loss of 1 groszy per share, in the prior-year period.

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