Dywilan SpA said its first-quarter normalized net income amounted to 79,640 zlotys, compared with a loss of 19,100 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 fell to negative 3.5% from negative 0.8% in the year-earlier period.

Total revenue decreased 11.4% year over year to 2.2 million zlotys from 2.5 million zlotys, and total operating expenses decreased 9.2% year over year to 2.3 million zlotys from 2.5 million zlotys.

Reported net income totaled a loss of 127,430 zlotys, compared with a loss of 30,570 zlotys in the prior-year period.

As of May 13, US$1 was equivalent to 3.90 zlotys.