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Pharmena Q2 loss narrows YOY

Pharmena SA said its second-quarter normalized net income was a loss of 73,130 zlotys, compared with a loss of 413,750 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 negative 1.8% from negative 10.9% in the year-earlier period.

Total revenue rose 8.8% on an annual basis to 4.1 million zlotys from 3.8 million zlotys, and total operating expenses fell on an annual basis to 4.3 million zlotys from 4.4 million zlotys.

Reported net income totaled a loss of 225,000 zlotys, or a loss of 3 groszy per share, compared to a loss of 724,000 zlotys, or a loss of 8 groszy per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to 3.82 zlotys.