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Lexington Co. Q1 profit climbs YOY

Lexington Co. AB said its normalized net income for the first quarter came to 24 Swedish öre per share, a gain from 5 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.1 million kronor, a gain from 211,250 kronor in the year-earlier period.

The normalized profit margin climbed to 1.8% from 0.4% in the year-earlier period.

Total revenue climbed 13.1% year over year to 65.1 million kronor from 57.5 million kronor, and total operating expenses rose 10.7% on an annual basis to 63.2 million kronor from 57.1 million kronor.

Reported net income came to 953,000 kronor, or 20 öre per share, compared to a loss of 397,000 kronor, or a loss of 9 öre per share, in the year-earlier period.

As of May 29, US$1 was equivalent to 8.54 Swedish kronor.