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Auto-Spa Q3 loss narrows YOY

Auto-Spa SA said its normalized net income for the third quarter amounted to a loss of 54,630 zlotys, compared with a loss of 222,480 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 climbed to negative 1.8% from negative 5.4% in the year-earlier period.

Total revenue decreased 27.2% year over year to 3.0 million zlotys from 4.1 million zlotys, and total operating expenses declined 32.7% on an annual basis to 2.8 million zlotys from 4.1 million zlotys.

Reported net income came to a loss of 75,420 zlotys, or a loss of 1 groszy per share, compared to a loss of 363,800 zlotys, or a loss of 4 groszy per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to 4.12 zlotys.