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Prí³chnik swings to profit in Q3

Próchnik SA said its third-quarter normalized net income amounted to 76,130 zlotys, compared with a loss of 16,880 zlotys in the year-earlier period.

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

The normalized profit margin fell to negative 0.9% from negative 0.2% in the year-earlier period.

Total revenue climbed 6.1% year over year to 9.9 million zlotys from 9.3 million zlotys, and total operating expenses climbed year over year to 9.5 million zlotys from 9.3 million zlotys.

Reported net income came to 4,000 zlotys, or 0 groszy per share, compared to a loss of 27,000 zlotys, or a loss of 0 groszy per share, in the prior-year period.

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