Nilörngruppen AB said its first-quarter normalized net income amounted to 26 Swedish öre per share, a decrease of 32.4% from 38 öre per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.9 million kronor, a decrease of 32.4% from 4.3 million kronor in the year-earlier period.
The normalized profit margin declined to 2.7% from 4.8% in the year-earlier period.
Total revenue grew 20.8% on an annual basis to 109.5 million kronor from 90.6 million kronor, and total operating expenses climbed 25.2% year over year to 104.7 million kronor from 83.6 million kronor.
Reported net income fell 40.2% on an annual basis to 3.5 million kronor, or 31 öre per share, from 5.9 million kronor, or 52 öre per share.
As of June 1, US$1 was equivalent to 8.59 Swedish kronor.