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SkiStar fiscal Q1 loss widens YOY

SkiStar AB said its normalized net income for the fiscal first quarter ended Nov. 30 came to a loss of 4.23 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of a loss of 5.19 kronor per share.

In the prior-year period, the per-share result came in at a loss of 4.19 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 165.6 million kronor, compared with a loss of 164.3 million kronor in the prior-year period.

The normalized profit margin rose to negative 258.6% from negative 261.2% in the year-earlier period.

Total revenue rose on an annual basis to 63.9 million kronor from 62.9 million kronor, and total operating expenses increased from the prior-year period to 304.5 million kronor from 294.9 million kronor.

Reported net income came to a loss of 204.7 million kronor, or a loss of 5.22 kronor per share, compared to a loss of 214.8 million kronor, or a loss of 5.48 kronor per share, in the prior-year period.

As of Dec. 18, US$1 was equivalent to 7.70 Swedish kronor.