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Sivers IMA Q1 loss widens 35.3% YOY

Sivers IMA Holding AB (publ) said its first-quarter normalized net income amounted to a loss of 9 Swedish öre per share, compared with a loss of 14 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.6 million kronor, compared with a loss of 2.7 million kronor in the year-earlier period.

The normalized profit margin fell to negative 67.5% from negative 43.6% in the year-earlier period.

Total revenue declined 12.7% on an annual basis to 5.3 million kronor from 6.1 million kronor, and total operating expenses grew 6.2% from the prior-year period to 11.1 million kronor from 10.4 million kronor.

Reported net income totaled a loss of 5.8 million kronor, or a loss of 14 öre per share, compared to a loss of 4.3 million kronor, or a loss of 22 öre per share, in the year-earlier period.

As of May 18, US$1 was equivalent to 8.29 Swedish kronor.