Online Brands Nordic AB said its first-quarter normalized net income came to a loss of 2 Swedish öre per share, compared with a loss of 4 öre per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 323,750 kronor, compared with a loss of 603,130 kronor in the prior-year period.
The normalized profit margin rose to negative 11.5% from negative 16.3% in the year-earlier period.
Total revenue declined 23.7% on an annual basis to 2.8 million kronor from 3.7 million kronor, and total operating expenses decreased 28.5% from the prior-year period to 3.3 million kronor from 4.6 million kronor.
Reported net income came to a loss of 518,000 kronor, or a loss of 3 öre per share, compared to a loss of 970,000 kronor, or a loss of 6 öre per share, in the year-earlier period.
As of May 19, US$1 was equivalent to 8.35 Swedish kronor.