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Bittium swings to loss in Q1

Bittium Oyj said its first-quarter normalized net income came to a loss of €62,500, compared with income of €187,500 in the year-earlier period.

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

The normalized profit margin declined to negative 0.4% from 1.2% in the year-earlier period.

Total revenue declined on an annual basis to €14.8 million from €15.2 million, and total operating expenses came to €14.9 million, compared with €14.8 million in the year-earlier period.

Reported net income came to a loss of €71,310, or a loss of 0 cents per share, compared to income of €396,760, or 0 cents per share, in the prior-year period.