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Online Brands Nordic swings to profit in Q2

Online Brands Nordic AB said its normalized net income for the second quarter was 8,750 kronor, compared with a loss of 146,250 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 increased to 0.2% from negative 2.9% in the year-earlier period.

Total revenue declined 11.2% on an annual basis to 4.5 million kronor from 5.1 million kronor, and total operating expenses declined 15.5% on an annual basis to 4.5 million kronor from 5.3 million kronor.

Reported net income came to a loss of 2,000 kronor, or a loss of 0 öre per share, compared to a loss of 229,000 kronor, or a loss of 1 öre per share, in the prior-year period.

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