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ADONnews Sweden Q1 loss narrows YOY

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ADONnews Sweden Q1 loss narrows YOY

ADONnews Sweden AB (publ) said its first-quarter normalized net income amounted to a loss of 2.5 million kronor, compared with a loss of 2.8 million kronor in the prior-year period.

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

Total revenue grew year over year to 644,000 kronor from 82,000 kronor, and total operating expenses climbed year over year to 4.6 million kronor from 4.4 million kronor.

Reported net income totaled a loss of 4.1 million kronor, or a loss of 1 öre per share, compared to a loss of 4.4 million kronor, or a loss of 2 öre per share, in the year-earlier period.

As of May 31, US$1 was equivalent to 8.35 Swedish kronor.