Zaklady Przemyslu Cukierniczego Otmuchów SA said its first-quarter normalized net income came to 64,380 zlotys, a fall of 71.6% from 226,880 zlotys in the prior-year period.

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

The normalized profit margin declined to 0.2% from 0.4% in the year-earlier period.

Total revenue fell 5.4% year over year to 59.2 million zlotys from 62.6 million zlotys, and total operating expenses fell year over year to 58.5 million zlotys from 61.0 million zlotys.

Reported net income fell 58.1% from the prior-year period to 345,000 zlotys, or 3 groszy per share, from 823,000 zlotys, or 6 groszy per share.

As of May 10, US$1 was equivalent to 3.88 zlotys.