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Greater Than Q1 loss widens 10.8% YOY

Greater Than AB said its first-quarter normalized net income amounted to a loss of 23 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of a loss of 34 öre per share.

The per-share loss narrowed 5.5% year over year from 25 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.7 million kronor, compared with a loss of 1.6 million kronor in the year-earlier period.

The normalized profit margin fell to negative 139.0% from negative 95.6% in the year-earlier period.

Total revenue declined 23.8% year over year to 1.3 million kronor from 1.6 million kronor, and total operating expenses decreased on an annual basis to 4.1 million kronor from 4.1 million kronor.

Reported net income totaled a loss of 2.8 million kronor, or a loss of 37 öre per share, compared to a loss of 2.5 million kronor, or a loss of 39 öre per share, in the prior-year period.

As of May 17, US$1 was equivalent to 8.24 Swedish kronor.