The company reduced expenses by 3% in the quarter, from RON45.2 million to RON43.7 million.
UCM Resita reported turnover of RON28 million in the first three months, down 10% from the RON31.3 million in the similar period of 2011.
UCM Resita was privatized in 2003, when Swiss company INET and UCM employees association took over the majority stake, in a EUR13.1 million deal. INET currently owns a 99.63% stake in the company.
In December 2011, UCM Resita closed down 3.39% at RON0.0599 a share in Bucharest. (EUR1=RON4.4165)