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Idex ASA Q1 loss widens 9.6% YOY

IDEX Biometrics ASA said its first-quarter normalized net income came to a loss of 6 Norwegian øre per share, compared with the S&P Capital IQ consensus estimate of a loss of 10 øre per share.

The per-share loss decreased 12.4% year over year from 7 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 34.0 million kroner, compared with a loss of 31.0 million kroner in the prior-year period.

Total revenue grew on an annual basis to 3.6 million kroner from 50,000 kroner, and total operating expenses climbed 19.7% from the prior-year period to 58.5 million kroner from 48.9 million kroner.

Reported net income totaled a loss of 51.5 million kroner, or a loss of 10 øre per share, compared to a loss of 51.0 million kroner, or a loss of 12 øre per share, in the prior-year period.

As of May 11, US$1 was equivalent to 8.16 Norwegian kroner.