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Nordic Leisure swings to profit in Q3

Nordic Leisure AB said its normalized net income for the third quarter came to 300,020 kronor, compared with a loss of 306,450 kronor in the year-earlier period.

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

The normalized profit margin climbed to 86.8% from negative 10.3% in the year-earlier period.

Total revenue rose 25.4% on an annual basis to 3.7 million kronor from 3.0 million kronor, and total operating expenses declined 17.2% year over year to 2.9 million kronor from 3.5 million kronor.

Reported net income totaled 4.7 million kronor, or 8 öre per share, compared to a loss of 570,710 kronor, or a loss of 1 öre per share, in the year-earlier period.

As of Nov. 10, US$1 was equivalent to 9.11 Swedish kronor.