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Laser-Med Q1 profit falls YOY

One More Level Spólka Akcyjna said its normalized net income for the first quarter was 4,100 zlotys, a decline of 72.0% from 14,640 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 dropped to 2.7% from 7.6% in the year-earlier period.

Total revenue fell 19.6% year over year to 154,160 zlotys from 191,850 zlotys, and total operating expenses declined 12.2% on an annual basis to 146,430 zlotys from 166,800 zlotys.

Reported net income fell 72.0% year over year to 6,560 zlotys, or 0 groszy per share, from 23,420 zlotys, or 0 groszy per share.

As of May 14, US$1 was equivalent to 3.57 zlotys.