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AhaWorld swings to loss in Q3

ahaWorld AB said its third-quarter normalized net income came to a loss of 14 Swedish öre per share, compared with 8 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 1.8 million kronor, compared with income of 480,000 kronor in the year-earlier period.

The normalized profit margin declined to negative 43.7% from 12.6% in the year-earlier period.

Total revenue grew 6.1% on an annual basis to 4.0 million kronor from 3.8 million kronor, and total operating expenses climbed 96.4% from the prior-year period to 7.5 million kronor from 3.8 million kronor.

Reported net income totaled a loss of 2.8 million kronor, or a loss of 23 öre per share, compared to income of 768,000 kronor, or 13 öre per share, in the year-earlier period.

As of Nov. 25, US$1 was equivalent to 9.23 Swedish kronor.