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Clavister Holding Q1 loss widens 5.0% YOY

Clavister Holding AB (publ.) said its normalized net income for the first quarter came to a loss of 57 Swedish öre per share, compared with a loss of 63 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 10.8 million kronor, compared with a loss of 10.3 million kronor in the prior-year period.

The normalized profit margin climbed to negative 59.7% from negative 96.1% in the year-earlier period.

Total revenue climbed 67.5% year over year to 18.0 million kronor from 10.7 million kronor, and total operating expenses increased 27.3% on an annual basis to 33.9 million kronor from 26.6 million kronor.

Reported net income came to a loss of 17.3 million kronor, or a loss of 92 öre per share, compared to a loss of 16.5 million kronor, or a loss of 1.01 kronor per share, in the year-earlier period.

As of May 11, US$1 was equivalent to 8.13 Swedish kronor.