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Medica Clinical Nord swings to profit in Q2

MedicaNatumin AB (publ) said its second-quarter normalized net income came to 1.4 million kronor, compared with a loss of 500,000 kronor in the year-earlier period.

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

The normalized profit margin climbed to 4.2% from negative 2.3% in the year-earlier period.

Total revenue rose 43.9% on an annual basis to 30.8 million kronor from 21.4 million kronor, and total operating expenses grew 29.5% from the prior-year period to 28.5 million kronor from 22.0 million kronor.

Reported net income came to 2.4 million kronor, or 1 öre per share, compared to a loss of 700,000 kronor, or a loss of 0 öre per share, in the prior-year period.

As of Sept. 1, US$1 was equivalent to 8.57 Swedish kronor.