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Online Brands Nordic swings to loss in Q3

Online Brands Nordic AB said its third-quarter normalized net income was a loss of 1 Swedish öre per share, compared with 38 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 181,250 kronor, compared with income of 1.1 million kronor in the prior-year period.

The normalized profit margin fell to negative 4.0% from 31.2% in the year-earlier period.

Total revenue increased 30.0% year over year to 4.5 million kronor from 3.5 million kronor, and total operating expenses rose 49.9% year over year to 4.8 million kronor from 3.2 million kronor.

Reported net income totaled a loss of 290,000 kronor, or a loss of 2 öre per share, compared to income of 1.4 million kronor, or 47 öre per share, in the prior-year period.

As of Nov. 12, US$1 was equivalent to 8.63 Swedish kronor.