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Tobii swings to loss in Q1

Tobii AB (publ) said its first-quarter normalized net income amounted to a loss of 21 Swedish öre per share, compared with 3 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 18.7 million kronor, compared with income of 2.0 million kronor in the year-earlier period.

The normalized profit margin dropped to negative 7.4% from 0.9% in the year-earlier period.

Total revenue increased 9.9% on an annual basis to 252.2 million kronor from 229.4 million kronor, and total operating expenses increased 10.1% year over year to 263.1 million kronor from 238.9 million kronor.

Reported net income came to a loss of 25.2 million kronor, or a loss of 29 öre per share, compared to income of 722,000 kronor, or 1 öre per share, in the year-earlier period.

As of May 4, US$1 was equivalent to 8.07 Swedish kronor.