Billboard AD said its normalized net income for the first quarter came to a loss of 51,750 leva, compared with a loss of 44,750 leva in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.7% from negative 0.6% in the year-earlier period.

Total revenue climbed 7.4% year over year to 8.0 million leva from 7.4 million leva, and total operating expenses climbed 7.7% from the prior-year period to 7.6 million leva from 7.0 million leva.

Reported net income totaled 73,000 leva, or 0 stotinki per share, compared to a loss of 20,000 leva, or a loss of 0 stotinki per share, in the year-earlier period.

As of May 30, US$1 was equivalent to 1.76 leva.