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Hugo Games Q1 loss widens YOY

5th Planet Games A/S said its normalized net income for the first quarter came to a loss of 74 Danish øre per share, compared with a loss of 30 øre 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 3.8 million kroner, compared with a loss of 1.2 million kroner in the prior-year period.

Total revenue declined 12.9% year over year to 792,000 kroner from 909,000 kroner, and total operating expenses rose year over year to 6.8 million kroner from 2.7 million kroner.

Reported net income came to a loss of 4.7 million kroner, or a loss of 94 øre per share, compared to a loss of 3.5 million kroner, or a loss of 89 øre per share, in the prior-year period.

As of May 27, US$1 was equivalent to 6.68 Danish kroner.