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Aspocomp Group swings to loss in Q1

Aspocomp Group Oyj said its normalized net income for the first quarter was a loss of 4 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share result swung to a loss from the prior-year profit of 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €291,880, compared with income of €78,750 in the year-earlier period.

The normalized profit margin dropped to negative 7.1% from 1.7% in the year-earlier period.

Total revenue fell 9.2% on an annual basis to €4.1 million from €4.6 million, and total operating expenses climbed on an annual basis to €4.6 million from €4.4 million.

Reported net income totaled a loss of €467,000, or a loss of 7 cents per share, compared to income of €126,000, or 2 cents per share, in the prior-year period.