Sinch Swings To Earnings In Q4

(RTTNews) - Sinch AB (CLCMF, SINCH.ST), a Swedish-based cloud communications platform company, on Tuesday reported profit in the fourth quarter compared with loss in the previous year.

For the fourth quarter, net income came in at SEK 250 million compared with loss of 324 million in the prior year.

Basic earnings per share were SEK 0.31 versus loss per share of SEK 0.38

EBITDA increased to SEK 845 million from SEK 307 million last year.

Adjusted EBITDA declined 6 percent to SEK 933 million from SEK 1.003 billion in the previous year.

Net sales declined 3 percent to SEK 6.76 billion from SEK 7.73 billion in the previous year.

On Monday, Sinch closed trading 1.59% lesser at SEK 23.50 on the Stockholm Stock Exchange.