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Werth-Holz fiscal Q1 loss narrows YOY

Werth-Holz SA said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to 129,810 zlotys, compared with a loss of 420,630 zlotys 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 negative 1.9% from negative 7.4% in the year-earlier period.

Total revenue grew 20.1% year over year to 6.8 million zlotys from 5.7 million zlotys, and total operating expenses grew 12.3% from the prior-year period to 6.9 million zlotys from 6.1 million zlotys.

Reported net income totaled a loss of 207,700 zlotys, compared with a loss of 673,000 zlotys in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 3.67 zlotys.