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Marimekko Q1 loss narrows YOY

Marimekko Oyj said its first-quarter normalized net income amounted to a loss of 3 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 10 cents per share.

The per-share loss decreased 67.8% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €240,000, compared with a loss of €745,000 in the prior-year period.

The normalized profit margin climbed to negative 1.1% from negative 3.7% in the year-earlier period.

Total revenue rose on an annual basis to €20.9 million from €20.1 million, and total operating expenses declined year over year to €21.2 million from €21.5 million.

Reported net income totaled a loss of €960,000, or a loss of 12 cents per share, compared to a loss of €1.1 million, or a loss of 14 cents per share, in the prior-year period.