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Yleiselektroniikka Q1 profit falls YOY

Yleiselektroniikka Oyj said its first-quarter normalized net income was 4 euro cents per share, a decline of 57.2% from 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €85,500, a decline of 61.8% from €224,000 in the year-earlier period.

The normalized profit margin fell to 1.0% from 2.4% in the year-earlier period.

Total revenue fell 7.3% year over year to €8.7 million from €9.3 million, and total operating expenses fell on an annual basis to €8.5 million from €8.9 million.

Reported net income declined 59.5% year over year to €118,000, or 5 cents per share, from €291,000, or 11 cents per share.