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Apetit Q1 loss widens YOY

Apetit Oyj said its normalized net income for the first quarter came to a loss of 17 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 20 cents per share.

The per-share loss increased year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €1.1 million, compared with a loss of €325,000 in the year-earlier period.

The normalized profit margin declined to negative 1.2% from negative 0.4% in the year-earlier period.

Total revenue increased year over year to €91.5 million from €88.9 million, and total operating expenses increased from the prior-year period to €92.7 million from €89.4 million.

Reported net income totaled a loss of €1.9 million, or a loss of 31 cents per share, compared to a loss of €900,000, or a loss of 15 cents per share, in the year-earlier period.