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Anoto Group Q1 loss widens YOY

Anoto Group AB (publ) said its normalized net income for the first quarter came to a loss of 1.09 Swedish kronor per share, compared with a loss of 12 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 38.4 million kronor, compared with a loss of 3.0 million kronor in the year-earlier period.

The normalized profit margin fell to negative 85.1% from negative 7.0% in the year-earlier period.

Total revenue climbed on an annual basis to 45.2 million kronor from 43.1 million kronor, and total operating expenses grew 88.9% on an annual basis to 106.8 million kronor from 56.5 million kronor.

Reported net income totaled a loss of 61.2 million kronor, or a loss of 1.73 kronor per share, compared to a loss of 5.1 million kronor, or a loss of 21 öre per share, in the prior-year period.

As of May 13, US$1 was equivalent to 8.27 Swedish kronor.