Skåne-möllan AB said its normalized net income for the first quarter amounted to 63 Swedish öre per share, a decline of 50.0% from 1.25 kronor per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 687,500 kronor, a decline of 50.0% from 1.4 million kronor in the year-earlier period.

The normalized profit margin dropped to 1.6% from 3.6% in the year-earlier period.

Total revenue increased 10.6% on an annual basis to 41.9 million kronor from 37.9 million kronor, and total operating expenses climbed 13.5% year over year to 41.1 million kronor from 36.2 million kronor.

Reported net income decreased 47.1% on an annual basis to 900,000 kronor, or 82 öre per share, from 1.7 million kronor, or 1.55 kronor per share.

As of April 20, US$1 was equivalent to 8.10 Swedish kronor.