NattoPharma ASA said its first-quarter normalized net income was a loss of 23 Norwegian øre per share, compared with the S&P Capital IQ consensus estimate of a loss of 30 øre per share.

The per-share loss increased 15.4% year over year from 20 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.9 million kroner, compared with a loss of 2.6 million kroner in the year-earlier period.

The normalized profit margin increased to negative 31.3% from negative 38.9% in the year-earlier period.

Total revenue increased 83.7% on an annual basis to 12.5 million kroner from 6.8 million kroner, and total operating expenses climbed 32.4% from the prior-year period to 15.8 million kroner from 12.0 million kroner.

Reported net income totaled a loss of 6.1 million kroner, or a loss of 35 øre per share, compared to a loss of 4.1 million kroner, or a loss of 30 øre per share, in the prior-year period.

As of May 20, US$1 was equivalent to 8.34 Norwegian kroner.