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NEXT Biometrics Group Q1 loss widens YOY

NEXT Biometrics Group ASA said its normalized net income for the first quarter came to a loss of 2.29 Norwegian kroner per share, compared with the S&P Capital IQ consensus estimate of a loss of 1.50 kroner per share.

The per-share loss widened year over year from 1.08 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 30.9 million kroner, compared with a loss of 12.2 million kroner in the prior-year period.

Total revenue climbed year over year to 5.2 million kroner from 2.4 million kroner, and total operating expenses climbed year over year to 54.2 million kroner from 24.6 million kroner.

Reported net income totaled a loss of 49.5 million kroner, or a loss of 3.66 kroner per share, compared to a loss of 19.6 million kroner, or a loss of 1.73 kroner per share, in the year-earlier period.

As of May 24, US$1 was equivalent to 8.34 Norwegian kroner.