Odd Molly International AB said its normalized net income for the first quarter amounted to 93 Swedish öre per share, a decline of 11.5% from 1.05 kronor per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.3 million kronor, a decline of 11.5% from 6.0 million kronor in the prior-year period.

The normalized profit margin fell to 4.5% from 6.0% in the year-earlier period.

Total revenue climbed 16.9% year over year to 117.7 million kronor from 100.7 million kronor, and total operating expenses increased 19.8% from the prior-year period to 109.2 million kronor from 91.2 million kronor.

Reported net income declined 23.3% on an annual basis to 5.9 million kronor, or 1.02 kronor per share, from 7.7 million kronor, or 1.33 kronor per share.

As of April 19, US$1 was equivalent to 8.08 Swedish kronor.