Bang & Olufsen a/s said its normalized net income for the fiscal first quarter ended Aug. 31 was a loss of 2.03 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of a loss of 62 øre per share.
The per-share loss widened 95.4% year over year from 1.04 kroner.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 82.3 million kroner, compared with a loss of 42.2 million kroner in the year-earlier period.
The normalized profit margin fell to negative 25.0% from negative 7.4% in the year-earlier period.
Total revenue totaled 571.4 million kroner, compared with 566.4 million kroner in the prior-year period, and total operating expenses rose 11.1% from the prior-year period to 700.6 million kroner from 630.6 million kroner.
Reported net income came to a loss of 109.4 million kroner, or a loss of 2.70 kroner per share, compared to a loss of 52.8 million kroner, or a loss of 1.30 kroner per share, in the year-earlier period.
As of Oct. 2, US$1 was equivalent to 5.89 Danish kroner.
