Procad SpA said its first-quarter normalized net income amounted to 7 groszy per share, an increase from 3 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 651,250 zlotys, an increase from 239,000 zlotys in the year-earlier period.

The normalized profit margin climbed to 4.2% from 2.1% in the year-earlier period.

Total revenue rose 33.6% year over year to 15.3 million zlotys from 11.5 million zlotys, and total operating expenses grew 26.3% from the prior-year period to 14.2 million zlotys from 11.3 million zlotys.

Reported net income grew from the prior-year period to 901,900 zlotys, or 10 groszy per share, from 180,380 zlotys, or 2 groszy per share.

As of May 12, US$1 was equivalent to 3.64 zlotys.