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Medica Clinical Nord Q1 loss widens YOY

MedicaNatumin AB (publ) said its normalized net income for the first quarter amounted to a loss of 1.5 million kronor, compared with a loss of 312,500 kronor in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 6.9% from negative 1.5% in the year-earlier period.

Total revenue increased year over year to 21.6 million kronor from 21.2 million kronor, and total operating expenses rose 16.1% year over year to 23.8 million kronor from 20.5 million kronor.

Reported net income came to a loss of 2.4 million kronor, or a loss of 1 öre per share, compared to a loss of 900,000 kronor, or a loss of 0 öre per share, in the prior-year period.

As of April 28, US$1 was equivalent to 8.53 Swedish kronor.