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Decora swings to loss in Q3

Decora SA said its third-quarter normalized net income came to a loss of 25,630 zlotys, compared with income of 2.5 million 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 fell to 0.1% from 3.2% in the year-earlier period.

Total revenue declined 30.0% year over year to 54.1 million zlotys from 77.3 million zlotys, and total operating expenses fell 25.2% year over year to 53.1 million zlotys from 71.0 million zlotys.

Reported net income came to a loss of 384,000 zlotys, or a loss of 3 groszy per share, compared to income of 3.6 million zlotys, or 31 groszy per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 3.95 zlotys.