TOYA Spólka Akcyjna said its first-quarter normalized net income was 7 groszy per share, a gain of 31.1% from 5 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.5 million zlotys, a gain of 31.2% from 4.2 million zlotys in the prior-year period.

The normalized profit margin climbed to 7.7% from 5.9% in the year-earlier period.

Total revenue came to 71.2 million zlotys, compared with 70.6 million zlotys in the year-earlier period, and total operating expenses declined from the prior-year period to 62.4 million zlotys from 63.6 million zlotys.

Reported net income rose 28.7% year over year to 7.0 million zlotys, or 9 groszy per share, from 5.5 million zlotys, or 7 groszy per share.

As of May 5, US$1 was equivalent to 3.88 zlotys.