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HKScan Oyj Q1 loss narrows YOY

HKScan Oyj said its normalized net income for the first quarter amounted to a loss of 3 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.

The per-share loss narrowed 44.9% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €1.9 million, compared with a loss of €3.5 million in the year-earlier period.

The normalized profit margin rose to negative 0.4% from negative 0.7% in the year-earlier period.

Total revenue came to €466.0 million, compared with €465.4 million in the prior-year period, and total operating expenses fell year over year to €466.8 million from €472.6 million.

Reported net income totaled a loss of €2.7 million, or a loss of 5 cents per share, compared to a loss of €12.6 million, or a loss of 23 cents per share, in the year-earlier period.