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Jays AB fiscal Q3 loss narrows YOY

Jays Group AB (publ) said its normalized net income for the fiscal third quarter ended Jan. 31 amounted to a loss of 14 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of a loss of 9 öre per share.

The per-share loss narrowed 66.0% year over year from 41 öre.

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 3.0 million kronor in the prior-year period.

The normalized profit margin rose to negative 27.5% from negative 32.1% in the year-earlier period.

Total revenue came to 9.3 million kronor, compared with 9.4 million kronor in the prior-year period, and total operating expenses grew year over year to 13.4 million kronor from 12.9 million kronor.

Reported net income totaled a loss of 4.1 million kronor, or a loss of 22 öre per share, compared to a loss of 4.8 million kronor, or a loss of 66 öre per share, in the prior-year period.

As of March 31, US$1 was equivalent to 8.11 Swedish kronor.