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Net Gaming Europe Q3 loss widens 10.4% YOY

Net Gaming Europe AB (publ) said its normalized net income for the third quarter amounted to a loss of 583,750 kronor, compared with a loss of 528,750 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 negative 18.7% from negative 34.3% in the year-earlier period.

Total revenue climbed year over year to 3.2 million kronor from 1.5 million kronor, and total operating expenses increased 77.8% year over year to 4.2 million kronor from 2.4 million kronor.

Reported net income totaled a loss of 934,000 kronor, or a loss of 2 öre per share, compared to a loss of 846,000 kronor, or a loss of 1 öre per share, in the prior-year period.

As of Nov. 19, US$1 was equivalent to 8.66 Swedish kronor.