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Nordic Leisure Q3 loss widens YOY

Nordic Leisure AB said its normalized net income for the third quarter was a loss of 306,450 kronor, compared with a loss of 39,670 kronor in the prior-year period.

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

The normalized profit margin dropped to negative 10.3% from negative 2.3% in the year-earlier period.

Total revenue rose 75.3% on an annual basis to 3.0 million kronor from 1.7 million kronor, and total operating expenses climbed 99.4% year over year to 3.5 million kronor from 1.7 million kronor.

Reported net income totaled a loss of 570,710 kronor, or a loss of 1 öre per share, compared to income of 291,000 kronor, or 1 öre per share, in the prior-year period.

As of Nov. 18, US$1 was equivalent to 8.74 Swedish kronor.