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Jojka Communications Q1 loss widens 75.7% YOY

Jojka Communications AB (publ) said its first-quarter normalized net income amounted to a loss of 3 Swedish öre per share, compared with a loss of 2 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 275,630 kronor, compared with a loss of 156,880 kronor in the year-earlier period.

The normalized profit margin declined to negative 19.8% from negative 10.2% in the year-earlier period.

Total revenue decreased 9.4% on an annual basis to 1.4 million kronor from 1.5 million kronor, and total operating expenses grew year over year to 1.8 million kronor from 1.8 million kronor.

Reported net income totaled a loss of 441,000 kronor, or a loss of 5 öre per share, compared to a loss of 251,000 kronor, or a loss of 4 öre per share, in the year-earlier period.

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