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Odd Molly Q2 loss narrows YOY

Odd Molly International AB said its second-quarter normalized net income amounted to a loss of 27 Swedish öre per share, compared with a loss of 67 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 a loss of 1.6 million kronor, compared with a loss of 3.8 million kronor in the prior-year period.

The normalized profit margin climbed to negative 1.9% from negative 6.8% in the year-earlier period.

Total revenue increased 44.1% year over year to 81.4 million kronor from 56.5 million kronor, and total operating expenses rose 33.8% year over year to 83.9 million kronor from 62.7 million kronor.

Reported net income came to a loss of 2.9 million kronor, or a loss of 51 öre per share, compared to a loss of 4.9 million kronor, or a loss of 86 öre per share, in the prior-year period.

As of Aug. 18, US$1 was equivalent to 8.37 Swedish kronor.