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Zinzino Q1 profit climbs YOY

Zinzino AB said its normalized net income for the first quarter was 13 Swedish öre per share, a gain of 93.2% from 7 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 4.1 million kronor, a gain from 1.8 million kronor in the prior-year period.

The normalized profit margin increased to 3.7% from 2.4% in the year-earlier period.

Total revenue increased 44.3% year over year to 109.0 million kronor from 75.5 million kronor, and total operating expenses increased 40.2% from the prior-year period to 102.2 million kronor from 72.8 million kronor.

Reported net income rose 80.2% year over year to 5.2 million kronor, or 17 öre per share, from 2.9 million kronor, or 11 öre per share.

As of May 22, US$1 was equivalent to 8.38 Swedish kronor.