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BIMobject Q1 loss widens 22.1% YOY

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BIMobject Q1 loss widens 22.1% YOY

BIMobject AB said its first-quarter normalized net income came to a loss of 14 Swedish öre per share, compared with a loss of 12 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 6.3 million kronor, compared with a loss of 5.2 million kronor in the year-earlier period.

The normalized profit margin rose to negative 111.8% from negative 183.4% in the year-earlier period.

Total revenue rose on an annual basis to 5.7 million kronor from 2.8 million kronor, and total operating expenses climbed 45.8% from the prior-year period to 16.2 million kronor from 11.1 million kronor.

Reported net income came to a loss of 10.3 million kronor, or a loss of 24 öre per share, compared to a loss of 8.4 million kronor, or a loss of 19 öre per share, in the year-earlier period.

As of May 26, US$1 was equivalent to 8.29 Swedish kronor.