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TargetEveryone Q1 loss narrows YOY

TargetEveryone AB (publ) said its normalized net income for the first quarter came to a loss of 17 Swedish öre per share, compared with a loss of 93 öre 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 4.2 million kronor, compared with a loss of 6.7 million kronor in the year-earlier period.

The normalized profit margin increased to negative 22.8% from negative 206.7% in the year-earlier period.

Total revenue climbed on an annual basis to 23.6 million kronor from 3.2 million kronor, and total operating expenses rose on an annual basis to 30.2 million kronor from 13.7 million kronor.

Reported net income totaled a loss of 7.3 million kronor, or a loss of 30 öre per share, compared to a loss of 10.1 million kronor, or a loss of 1.40 kronor per share, in the year-earlier period.

As of May 10, US$1 was equivalent to 8.15 Swedish kronor.