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Obducat Q1 loss widens 75.7% YOY

Obducat AB (publ) said its first-quarter normalized net income came to a loss of 15 Swedish öre per share, compared with a loss of 10 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 a loss of 3.8 million kronor, compared with a loss of 2.2 million kronor in the prior-year period.

The normalized profit margin rose to negative 19.2% from negative 34.8% in the year-earlier period.

Total revenue climbed on an annual basis to 19.8 million kronor from 6.2 million kronor, and total operating expenses rose from the prior-year period to 25.7 million kronor from 9.6 million kronor.

Reported net income came to a loss of 6.7 million kronor, or a loss of 27 öre per share, compared to a loss of 3.4 million kronor, or a loss of 15 öre per share, in the prior-year period.

As of April 29, US$1 was equivalent to 8.02 Swedish kronor.