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Briox Q1 loss widens 78.7% YOY

Briox AB (publ) said its normalized net income for the first quarter came to a loss of 77 Swedish öre per share, compared with a loss of 46 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.6 million kronor, compared with a loss of 2.6 million kronor in the prior-year period.

The normalized profit margin dropped to negative 194.6% from negative 110.2% in the year-earlier period.

Total revenue grew year over year to 2.3 million kronor from 2.3 million kronor, and total operating expenses increased 28.5% from the prior-year period to 8.8 million kronor from 6.9 million kronor.

Reported net income came to a loss of 7.4 million kronor, or a loss of 1.24 kronor per share, compared to a loss of 4.3 million kronor, or a loss of 78 öre per share, in the year-earlier period.

As of May 12, US$1 was equivalent to 8.18 Swedish kronor.