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Online Brands Nordic Q1 loss narrows YOY

Online Brands Nordic AB said its normalized net income for the first quarter was a loss of 4 Swedish öre per share, compared with a loss of 34 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 603,130 kronor, compared with a loss of 977,500 kronor in the prior-year period.

The normalized profit margin rose to negative 16.3% from negative 30.1% in the year-earlier period.

Total revenue grew 14.0% year over year to 3.7 million kronor from 3.2 million kronor, and total operating expenses decreased on an annual basis to 4.6 million kronor from 4.8 million kronor.

Reported net income came to a loss of 970,000 kronor, or a loss of 6 öre per share, compared to a loss of 1.2 million kronor, or a loss of 43 öre per share, in the year-earlier period.

As of May 7, US$1 was equivalent to 8.29 Swedish kronor.