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AhaWorld swings to profit in Q3

ahaWorld AB said its third-quarter normalized net income was 8 Swedish öre per share, compared with a loss of 37 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 480,000 kronor, compared with a loss of 2.1 million kronor in the year-earlier period.

The normalized profit margin rose to 12.6% from negative 61.0% in the year-earlier period.

Total revenue rose 8.3% year over year to 3.8 million kronor from 3.5 million kronor, and total operating expenses declined 44.8% year over year to 3.8 million kronor from 6.9 million kronor.

Reported net income totaled 768,000 kronor, or 13 öre per share, compared to a loss of 3.4 million kronor, or a loss of 59 öre per share, in the year-earlier period.

As of Nov. 18, US$1 was equivalent to 8.74 Swedish kronor.