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Honkarakenne Q1 loss narrows YOY

Honkarakenne Oyj said its normalized net income for the first quarter came to a loss of 25 euro cents per share, compared with a loss of 26 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €1.2 million, compared with a loss of €1.3 million in the year-earlier period.

The normalized profit margin dropped to negative 25.8% from negative 21.6% in the year-earlier period.

Total revenue declined 20.7% year over year to €4.6 million from €5.8 million, and total operating expenses fell 12.2% year over year to €6.5 million from €7.4 million.

Reported net income totaled a loss of €1.9 million, or a loss of 39 cents per share, compared to a loss of €1.6 million, or a loss of 33 cents per share, in the year-earlier period.