Ellen AB said its first-half normalized net income came to a loss of 640,000 kronor, compared with a loss of 836,250 kronor in the prior-year period.

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

Total revenue fell on an annual basis to 9.3 million kronor from 9.6 million kronor, and total operating expenses declined 5.8% year over year to 10.7 million kronor from 11.3 million kronor.

Reported net income totaled a loss of 686,760 kronor, or a loss of 1 öre per share, compared to a loss of 2.4 million kronor, or a loss of 4 öre per share, in the year-earlier period.

As of July 22, US$1 was equivalent to 8.62 Swedish kronor.