Aker Solutions Q1 Profit Drops 46%

Aker Solutions ASA

reported a 46% drop in its first-quarter net profit. Aker Solutions' quarterly net profit fell to NOK270 million, or NOK1 per share, from NOK498 million, in the year-ago quarter. However, analysts were expecting a net profit of NOK361 million. Its revenue fell to NOK11.1 billion from NOK9.8 billion, missing estimates of NOK11.22 billion. Its EBIT fell to NOK529 million from NOK806 million.