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Wikana Q1 loss narrows YOY

Wikana SA said its first-quarter normalized net income was a loss of 6 groszy per share, compared with a loss of 17 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 a loss of 1.3 million zlotys, compared with a loss of 2.4 million zlotys in the year-earlier period.

The normalized profit margin declined to negative 11.6% from negative 10.6% in the year-earlier period.

Total revenue declined 52.3% year over year to 11.0 million zlotys from 23.0 million zlotys, and total operating expenses fell 52.8% on an annual basis to 11.8 million zlotys from 24.9 million zlotys.

Reported net income came to a loss of 2.2 million zlotys, or a loss of 11 groszy per share, compared to a loss of 4.4 million zlotys, or a loss of 30 groszy per share, in the prior-year period.

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