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Motion Display Scandinavia swings to profit in Q1

Motion Display Scandinavia AB said its normalized net income for the first quarter was 1 Swedish öre per share, compared with a loss of 19 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 123,130 kronor, compared with a loss of 1.7 million kronor in the prior-year period.

The normalized profit margin increased to 1.7% from negative 41.2% in the year-earlier period.

Total revenue increased 72.0% year over year to 7.1 million kronor from 4.2 million kronor, and total operating expenses declined from the prior-year period to 6.8 million kronor from 6.9 million kronor.

Reported net income came to 134,000 kronor, or 1 öre per share, compared to a loss of 2.8 million kronor, or a loss of 31 öre per share, in the year-earlier period.

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