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Sportamore Q1 loss widens YOY

Sportamore AB said its normalized net income for the first quarter amounted to a loss of 1.21 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of a loss of 68 öre per share.

The per-share loss increased year over year from 11 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 10.3 million kronor, compared with a loss of 768,750 kronor in the year-earlier period.

The normalized profit margin dropped to negative 9.9% from negative 1.0% in the year-earlier period.

Total revenue climbed 28.5% on an annual basis to 103.7 million kronor from 80.7 million kronor, and total operating expenses increased 46.5% on an annual basis to 120.2 million kronor from 82.1 million kronor.

Reported net income totaled a loss of 16.5 million kronor, or a loss of 1.94 kronor per share, compared to a loss of 1.2 million kronor, or a loss of 17 öre per share, in the year-earlier period.

As of May 5, US$1 was equivalent to 8.35 Swedish kronor.