Nordiag cuts net loss in Q3

3 November 2011 - Norwegian Nordiag ASA (OSL:NORD) registered on Thursday a third-quarter 2011 net loss of NOK7.9m (USD1.4m/EUR1m), a decrease from a loss of NOK11.4m a year earlier.

The company's loss before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK7.7m in the reporting period after a loss of NOK8.7m in the previous year.

Affected by the uncertainty on the financial markets, revenue declined to NOK5.6m in the third quarter of 2011 from NOK7.55m in the prior-year period.

CEO Marten Wigstol said that the company expects business activity to normalise over the next quarter.

(NOK1 = USD0.178/EUR0.128)

Published in M2 Pharma on Thursday, 03 November 2011
Copyright (C) 2024, M2 Communications Ltd.

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