Gullberg & Jansson AB said its second-quarter normalized net income amounted to 33 Swedish öre per share, a decline of 28.2% from 46 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 2.8 million kronor, a gain from 2.8 million kronor in the prior-year period.

The normalized profit margin declined to 9.8% from 11.9% in the year-earlier period.

Total revenue rose 23.0% on an annual basis to 28.5 million kronor from 23.2 million kronor, and total operating expenses increased 28.8% from the prior-year period to 24.2 million kronor from 18.8 million kronor.

Reported net income decreased 21.0% from the prior-year period to 3.5 million kronor, or 41 öre per share, from 4.4 million kronor, or 74 öre per share.

As of Aug. 26, US$1 was equivalent to 8.41 Swedish kronor.