Nordic Leisure AB said its first-quarter normalized net income was a loss of 163,830 kronor, compared with a loss of 66,570 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 3.3% from negative 2.9% in the year-earlier period.

Total revenue climbed year over year to 5.2 million kronor from 2.3 million kronor, and total operating expenses rose on an annual basis to 5.5 million kronor from 2.4 million kronor.

Reported net income came to a loss of 304,570 kronor, or a loss of 1 öre per share, compared to a loss of 123,570 kronor, or a loss of 0 öre per share, in the prior-year period.

As of May 12, US$1 was equivalent to 8.18 Swedish kronor.