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Procad Q3 profit falls YOY

Procad SpA said its normalized net income for the third quarter came to 27,500 zlotys, a fall of 93.1% from 399,750 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 0.2% from 3.2% in the year-earlier period.

Total revenue fell year over year to 12.1 million zlotys from 12.5 million zlotys, and total operating expenses grew on an annual basis to 12.0 million zlotys from 11.7 million zlotys.

Reported net income decreased 96.5% year over year to 19,000 zlotys, or 0 groszy per share, from 541,140 zlotys, or 6 groszy per share.

As of Nov. 9, US$1 was equivalent to 3.97 zlotys.