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GWS Production Q1 loss widens 13.3% YOY

Safeture AB (publ) said its normalized net income for the first quarter came to a loss of 18 Swedish öre per share, compared with a loss of 22 öre 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 2.6 million kronor, compared with a loss of 2.3 million kronor in the prior-year period.

The normalized profit margin was 80.6%.

Total revenue grew year over year to 3.3 million kronor from 586,000 kronor, and total operating expenses rose 82.5% year over year to 7.9 million kronor from 4.3 million kronor.

Reported net income totaled a loss of 4.3 million kronor, or a loss of 30 öre per share, compared to a loss of 3.7 million kronor, or a loss of 35 öre per share, in the prior-year period.

As of May 27, US$1 was equivalent to 8.34 Swedish kronor.