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Lexington Co. Q2 loss widens YOY

Lexington Co. AB said its normalized net income for the second quarter amounted to a loss of 1.07 Swedish kronor per share, compared with a loss of 12 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 5.2 million kronor, compared with a loss of 600,130 kronor in the prior-year period.

The normalized profit margin dropped to negative 9.7% from negative 1.0% in the year-earlier period.

Total revenue fell 6.5% on an annual basis to 54.1 million kronor from 57.8 million kronor, and total operating expenses came to 63.2 million kronor, compared with 63.8 million kronor in the year-earlier period.

Reported net income totaled a loss of 9.1 million kronor, or a loss of 1.86 kronor per share, compared to a loss of 1.5 million kronor, or a loss of 31 öre per share, in the year-earlier period.

As of Aug. 23, US$1 was equivalent to 8.36 Swedish kronor.