New Wave Group AB (publ) said its normalized net income for the first quarter came to a loss of 13 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of a loss of 26 öre per share.
In the prior-year period, the per-share result came in at a loss of 13 öre.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 8.8 million kronor, compared with a loss of 8.9 million kronor in the prior-year period.
The normalized profit margin climbed to negative 0.8% from negative 1.0% in the year-earlier period.
Total revenue grew 20.6% on an annual basis to 1.10 billion kronor from 908.5 million kronor, and total operating expenses grew 18.2% from the prior-year period to 1.09 billion kronor from 919.1 million kronor.
Reported net income totaled a loss of 11.3 million kronor, or a loss of 17 öre per share, compared to a loss of 11.3 million kronor, or a loss of 17 öre per share, in the prior-year period.
As of April 29, US$1 was equivalent to 8.32 Swedish kronor.
