Farmaceutica REMEDIA S.A. said its first-quarter normalized net income came to 307,660 lei, a decline of 54.6% from 678,140 lei in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 0.5% from 1.1% in the year-earlier period.
Total revenue fell year over year to 62.7 million lei from 63.7 million lei, and total operating expenses totaled 62.1 million lei, compared with 62.7 million lei in the prior-year period.
Reported net income declined 57.9% from the prior-year period to 404,500 lei, or 0 bani per share, from 960,320 lei.
As of April 29, US$1 was equivalent to 3.95 Romanian lei.
