Netmedia SpA said its first-quarter normalized net income came to 15 groszy per share, an increase from 5 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 1.7 million zlotys, an increase from 605,630 zlotys in the prior-year period.

The normalized profit margin climbed to 3.7% from 1.6% in the year-earlier period.

Total revenue climbed 21.1% on an annual basis to 45.5 million zlotys from 37.5 million zlotys, and total operating expenses rose 18.1% on an annual basis to 42.8 million zlotys from 36.2 million zlotys.

Reported net income rose 92.9% from the prior-year period to 2.3 million zlotys, or 21 groszy per share, from 1.2 million zlotys, or 10 groszy per share.

As of May 15, US$1 was equivalent to 3.54 zlotys.