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Shortcut Media Q1 loss narrows YOY

Shortcut Media AB (publ) said its normalized net income for the first quarter amounted to 76,130 kronor, compared with a loss of 208,880 kronor in the prior-year period.

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

The normalized profit margin increased to negative 1.2% from negative 7.9% in the year-earlier period.

Total revenue grew year over year to 6.2 million kronor from 2.6 million kronor, and total operating expenses increased year over year to 5.8 million kronor from 2.8 million kronor.

Reported net income came to a loss of 104,000 kronor, compared with a loss of 282,000 kronor in the prior-year period.

As of May 13, US$1 was equivalent to 8.27 Swedish kronor.