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Simris Alg Q2 loss widens 22.4% YOY

Simris Alg AB said its second-quarter normalized net income came to a loss of 2.7 million kronor, compared with a loss of 2.2 million kronor in the year-earlier period.

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

Total revenue increased year over year to 147,000 kronor from 62,000 kronor, and total operating expenses grew 20.7% on an annual basis to 4.4 million kronor from 3.7 million kronor.

Reported net income came to a loss of 4.4 million kronor, or a loss of 49 öre per share, compared to a loss of 3.6 million kronor in the year-earlier period.

As of Aug. 24, US$1 was equivalent to 8.41 Swedish kronor.