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Odd Molly swings to loss in Q4

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Odd Molly swings to loss in Q4

Odd Molly International AB said its normalized net income for the fourth quarter amounted to a loss of 1.6 million kronor, compared with income of 30,000 kronor in the prior-year period.

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

The normalized profit margin declined to negative 2.2% from 0.0% in the year-earlier period.

Total revenue grew 5.2% year over year to 75.7 million kronor from 71.9 million kronor, and total operating expenses grew 7.9% year over year to 77.2 million kronor from 71.6 million kronor.

Reported net income totaled a loss of 2.4 million kronor, or a loss of 42 öre per share, compared to income of 515,240 kronor, or 9 öre per share, in the prior-year period.

For the year, the company's normalized net income totaled 1.40 kronor per share, an increase from 61 öre per share in the prior year.

Normalized net income was 8.0 million kronor, a gain from 3.5 million kronor in the prior year.

Full-year total revenue rose 17.2% on an annual basis to 345.0 million kronor from 294.3 million kronor, and total operating expenses rose 14.8% on an annual basis to 331.3 million kronor from 288.5 million kronor.

The company said reported net income grew year over year to 9.8 million kronor, or 1.70 kronor per share, in the full year, from 4.1 million kronor, or 71 öre per share.

As of March 24, US$1 was equivalent to 8.31 Swedish kronor.