NattoPharma ASA said its normalized net income for the first quarter amounted to a loss of 20 Norwegian øre per share, compared with a loss of 28 øre 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 2.6 million kroner, compared with a loss of 3.1 million kroner in the year-earlier period.

The normalized profit margin increased to negative 38.9% from negative 75.9% in the year-earlier period.

Total revenue climbed 67.6% year over year to 6.8 million kroner from 4.0 million kroner, and total operating expenses climbed 39.2% from the prior-year period to 12.0 million kroner from 8.6 million kroner.

Reported net income totaled a loss of 4.1 million kroner, or a loss of 30 øre per share, compared to a loss of 4.8 million kroner, or a loss of 43 øre per share, in the year-earlier period.

As of May 29, US$1 was equivalent to 7.79 Norwegian kroner.