Firma Oponiarska Debica SA said its first-quarter normalized net income was 2.21 zlotys per share, a gain of 17.2% from 1.89 zlotys per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 30.5 million zlotys, an increase of 17.2% from 26.0 million zlotys in the prior-year period.
The normalized profit margin climbed to 6.3% from 4.9% in the year-earlier period.
Total revenue fell 9.5% year over year to 481.4 million zlotys from 532.1 million zlotys, and total operating expenses fell 12.1% from the prior-year period to 429.2 million zlotys from 488.3 million zlotys.
Reported net income declined 14.3% on an annual basis to 35.6 million zlotys, or 2.58 zlotys per share, from 41.5 million zlotys, or 3.01 zlotys per share.
As of May 13, US$1 was equivalent to 3.60 zlotys.
