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ZetaDisplay swings to loss in Q1

ZetaDisplay AB (publ) said its normalized net income for the first quarter was a loss of 38,130 kronor, compared with income of 764,380 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 0.1% from 3.0% in the year-earlier period.

Total revenue climbed on an annual basis to 25.4 million kronor from 25.1 million kronor, and total operating expenses grew 5.0% from the prior-year period to 24.9 million kronor from 23.7 million kronor.

Reported net income totaled a loss of 61,000 kronor, or a loss of 0 öre per share, compared to income of 854,000 kronor, or 7 öre per share, in the prior-year period.

As of May 16, US$1 was equivalent to 8.24 Swedish kronor.