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Nobia Q1 profit climbs 14.4% YOY

Nobia AB (publ) said its normalized net income for the first quarter was 83 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 97 öre per share.

EPS rose 14.1% year over year from 72 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 139.4 million kronor, an increase of 14.4% from 121.9 million kronor in the prior-year period.

The normalized profit margin rose to 4.7% from 3.7% in the year-earlier period.

Total revenue grew year over year to 3.32 billion kronor from 3.25 billion kronor, and total operating expenses climbed year over year to 3.09 billion kronor from 3.05 billion kronor.

Reported net income increased 11.9% on an annual basis to 169.0 million kronor, or 100 öre per share, from 151.1 million kronor, or 90 öre per share.

As of April 27, US$1 was equivalent to 8.09 Swedish kronor.