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Gullberg & Jansson Q1 loss narrows YOY

910908 sa Gullberg & Jansson AB net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 463,130 kronor, compared with a loss of 997,500 kronor in the year-earlier period.

The normalized profit margin rose to negative 6.1% from negative 17.2% in the year-earlier period.

Total revenue grew 30.8% on an annual basis to 7.6 million kronor from 5.8 million kronor, and total operating expenses increased 10.6% year over year to 8.4 million kronor from 7.6 million kronor.

Reported net income totaled a loss of 741,000 kronor, or a loss of 12 öre per share, compared to a loss of 1.6 million kronor, or a loss of 27 öre per share, in the prior-year period.

As of May 26, US$1 was equivalent to 8.29 Swedish kronor.