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Nobia Q1 profit climbs 47.7% YOY

Nobia AB said its first-quarter normalized net income amounted to 72 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 68 öre per share.

EPS rose 47.0% year over year from 49 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 121.9 million kronor, an increase of 47.7% from 82.5 million kronor in the prior-year period.

The normalized profit margin rose to 3.7% from 3.1% in the year-earlier period.

Total revenue grew 20.6% on an annual basis to 3.25 billion kronor from 2.69 billion kronor, and total operating expenses increased 19.8% on an annual basis to 3.05 billion kronor from 2.55 billion kronor.

Reported net income grew 52.8% on an annual basis to 151.1 million kronor, or 90 öre per share, from 98.9 million kronor, or 59 öre per share.

As of April 27, US$1 was equivalent to 8.60 Swedish kronor.