Asker og Bærums Budstikke AS said its first-quarter normalized net income was 320,000 kroner, compared with income of 52,500 kroner in the year-earlier period.

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

The normalized profit margin declined to negative 0.5% from 0.1% in the year-earlier period.

Total revenue declined year over year to 52.9 million kroner from 53.9 million kroner, and total operating expenses totaled 53.5 million kroner, compared with 53.6 million kroner in the year-earlier period.

Reported net income came to a loss of 7.3 million kroner, compared with income of 1,000 kroner in the year-earlier period.

As of May 25, US$1 was equivalent to 8.33 Norwegian kroner.