Raybased AB (publ) said its normalized net income for the first quarter came to a loss of 859,540 kronor.

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

The normalized profit margin was 136.3%.

Total revenue came to 630,830 kronor, and total operating expenses came to 2.0 million kronor.

Reported net income came to a loss of 1.1 million kronor, or a loss of 20 öre per share.

As of May 31, US$1 was equivalent to 8.35 Swedish kronor.