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Marimekko Q1 loss narrows YOY

Marimekko Oyj said its normalized net income for the first quarter came to a loss of 9 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 16 cents per share.

The per-share loss decreased 34.5% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €745,000, compared with a loss of €1.1 million in the prior-year period.

The normalized profit margin increased to negative 3.7% from negative 5.9% in the year-earlier period.

Total revenue climbed on an annual basis to €20.1 million from €19.4 million, and total operating expenses climbed on an annual basis to €21.5 million from €21.1 million.

Reported net income came to a loss of €1.1 million, or a loss of 14 cents per share, compared to a loss of €1.5 million, or a loss of 19 cents per share, in the year-earlier period.