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Invuo Technologies Q1 loss narrows YOY

Invuo Technologies AB said its first-quarter normalized net income amounted to a loss of 34 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of a loss of 50 öre per share.

The per-share loss decreased 28.9% year over year from 47 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 15.5 million kronor, compared with a loss of 19.8 million kronor in the year-earlier period.

The normalized profit margin climbed to negative 25.4% from negative 34.9% in the year-earlier period.

Total revenue rose 7.7% on an annual basis to 61.1 million kronor from 56.7 million kronor, and total operating expenses declined year over year to 85.2 million kronor from 88.3 million kronor.

Reported net income came to a loss of 25.6 million kronor, or a loss of 55 öre per share, compared to a loss of 31.8 million kronor, or a loss of 76 öre per share, in the year-earlier period.

As of April 22, US$1 was equivalent to 8.13 Swedish kronor.