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Auga Group swings to loss in Q3

Auga Group AB said its third-quarter normalized net income amounted to a loss of €580,000, compared with income of €5.7 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 6.4% from 37.6% in the year-earlier period.

Total revenue decreased 34.6% year over year to €10.0 million from €15.3 million, and total operating expenses rose 83.7% year over year to €10.2 million from €5.5 million.

Reported net income came to a loss of €219,000, or a loss of 0 cents per share, compared to income of €8.2 million, or 4 cents per share, in the year-earlier period.