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AhaWorld Q2 loss narrows YOY

ahaWorld AB said its second-quarter normalized net income amounted to a loss of 12 Swedish öre per share, compared with a loss of 41 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 728,750 kronor, compared with a loss of 2.4 million kronor in the prior-year period.

The normalized profit margin climbed to negative 21.3% from negative 59.6% in the year-earlier period.

Total revenue fell 14.6% year over year to 3.4 million kronor from 4.0 million kronor, and total operating expenses declined 45.5% on an annual basis to 4.2 million kronor from 7.7 million kronor.

Reported net income totaled a loss of 1.2 million kronor, or a loss of 20 öre per share, compared to a loss of 3.8 million kronor, or a loss of 64 öre per share, in the year-earlier period.

As of Aug. 18, US$1 was equivalent to 8.55 Swedish kronor.