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Confidence International Q1 loss narrows YOY

Confidence International AB (publ.) said its normalized net income for the first quarter came to a loss of 201,880 kronor, compared with a loss of 2.2 million kronor in the year-earlier period.

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

The normalized profit margin rose to negative 0.7% from negative 11.2% in the year-earlier period.

Total revenue rose 51.3% on an annual basis to 29.6 million kronor from 19.6 million kronor, and total operating expenses grew 32.7% year over year to 29.9 million kronor from 22.5 million kronor.

Reported net income totaled a loss of 350,980 kronor, or a loss of 1 öre per share, compared to a loss of 3.5 million kronor, or a loss of 13 öre per share, in the year-earlier period.

As of May 19, US$1 was equivalent to 8.35 Swedish kronor.