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Verkkokauppa.com Q1 profit falls 5.8% YOY

Verkkokauppa.com Oyj said its normalized net income for the first quarter was 3 euro cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

EPS declined 19.7% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.2 million, a decline of 5.8% from €1.3 million in the year-earlier period.

The normalized profit margin declined to 1.6% from 2.1% in the year-earlier period.

Total revenue climbed 20.3% on an annual basis to €72.9 million from €60.6 million, and total operating expenses climbed 21.4% from the prior-year period to €71.0 million from €58.4 million.

Reported net income came to a loss of €2.4 million, or a loss of 5 cents per share, compared to income of €1.3 million, or 4 cents per share, in the prior-year period.