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Skano Group swings to loss in Q3

Skano Group AS said its normalized net income for the third quarter came to a loss of €26,250, compared with income of €3,130 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 0.6% from 0.1% in the year-earlier period.

Total revenue decreased year over year to €4.7 million from €4.8 million, and total operating expenses declined from the prior-year period to €4.6 million from €4.7 million.

Reported net income totaled a loss of €43,000, or a loss of 1 cents per share, compared to income of €5,000, or 0 cents per share, in the year-earlier period.