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Scanfil swings to loss in Q1

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Scanfil swings to loss in Q1

Scanfil Oyj said its normalized net income for the first quarter was a loss of €62,500, compared with income of €2.1 million in the prior-year period.

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

The normalized profit margin declined to negative 0.0% from 4.5% in the year-earlier period.

Total revenue increased year over year to €130.4 million from €45.9 million, and total operating expenses rose year over year to €130.0 million from €43.3 million.

Reported net income came to a loss of €1.7 million, or a loss of 3 cents per share, compared to income of €2.7 million, or 5 cents per share, in the year-earlier period.