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Asknet Q1 loss widens YOY

Nexway AG said its normalized net income for the first quarter was €308,380, compared with a loss of €106,760 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 2.0% from negative 0.6% in the year-earlier period.

Total revenue declined 5.8% year over year to €15.8 million from €16.7 million, and total operating expenses decreased from the prior-year period to €16.3 million from €16.9 million.

Reported net income came to a loss of €493,400, compared with a loss of €170,810 in the prior-year period.