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Auga Group swings to profit in Q1

Auga Group AB said its normalized net income for the first quarter amounted to €275,500, compared with a loss of €481,750 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 4.1% from negative 5.4% in the year-earlier period.

Total revenue came to €8.9 million, compared with €8.9 million in the year-earlier period, and total operating expenses fell 15.2% from the prior-year period to €8.1 million from €9.6 million.

Reported net income totaled €583,000, or 0 cents per share, compared to a loss of €554,000, or a loss of 0 cents per share, in the prior-year period.