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Dantax swings to loss in fiscal Q3

Dantax A/S said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 39 Danish øre per share, compared with 4.09 kroner 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 108,750 kroner, compared with income of 1.2 million kroner in the year-earlier period.

The normalized profit margin dropped to negative 0.9% from 6.3% in the year-earlier period.

Total revenue declined 37.9% on an annual basis to 12.0 million kroner from 19.3 million kroner, and total operating expenses declined 33.8% year over year to 11.5 million kroner from 17.4 million kroner.

Reported net income totaled a loss of 282,000 kroner, or a loss of 1 krone per share, compared to income of 1.4 million kroner, or 4.80 kroner per share, in the year-earlier period.

As of May 17, US$1 was equivalent to 6.56 Danish kroner.