Insplorion AB (publ) said its normalized net income for the first quarter amounted to a loss of 16 Swedish öre per share, compared with a loss of 1.65 kronor 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 807,500 kronor, compared with a loss of 328,130 kronor in the year-earlier period.

The normalized profit margin fell to negative 210.3% from negative 43.9% in the year-earlier period.

Total revenue declined 48.7% year over year to 384,000 kronor from 748,000 kronor, and total operating expenses rose 27.2% on an annual basis to 1.6 million kronor from 1.3 million kronor.

Reported net income came to a loss of 1.3 million kronor, or a loss of 26 öre per share, compared to a loss of 525,000 kronor, or a loss of 2.63 kronor per share, in the prior-year period.

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