Atlanta Poland SA said its normalized net income for the fiscal first quarter ended Sept. 30 was 20 groszy per share, a decrease of 12.2% from 23 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million zlotys, a decrease of 12.2% from 1.4 million zlotys in the year-earlier period.

The normalized profit margin fell to 1.9% from 2.4% in the year-earlier period.

Total revenue climbed 12.7% year over year to 63.3 million zlotys from 56.2 million zlotys, and total operating expenses climbed 13.4% on an annual basis to 61.2 million zlotys from 53.9 million zlotys.

Reported net income declined 22.8% year over year to 1.4 million zlotys, or 23 groszy per share, from 1.8 million zlotys, or 30 groszy per share.

As of Nov. 16, US$1 was equivalent to 3.96 zlotys.