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Exalt AB Q1 loss narrows YOY

Exalt AB (publ) said its first-quarter normalized net income came to a loss of 3 Swedish öre per share, compared with a loss of 13 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 753,130 kronor, compared with a loss of 905,000 kronor in the prior-year period.

The normalized profit margin climbed to negative 7.7% from negative 69.5% in the year-earlier period.

Total revenue increased year over year to 9.8 million kronor from 1.3 million kronor, and total operating expenses grew year over year to 11.0 million kronor from 2.7 million kronor.

Reported net income totaled a loss of 920,000 kronor, or a loss of 4 öre per share, compared to a loss of 1.4 million kronor, or a loss of 20 öre per share, in the prior-year period.

As of May 17, US$1 was equivalent to 8.24 Swedish kronor.