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Nsfocus Information Technology Q1 loss narrows YOY

Nsfocus Information Technology Co. Ltd. said its normalized net income for the first quarter came to a loss of 3 fen per share, compared with a loss of 4 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 19.7 million yuan, compared with a loss of 25.9 million yuan in the prior-year period.

The normalized profit margin increased to negative 16.0% from negative 40.1% in the year-earlier period.

Total revenue rose 79.0% year over year to 115.8 million yuan from 64.7 million yuan, and total operating expenses increased year over year to 283.0 million yuan from 122.8 million yuan.

Reported net income totaled a loss of 33.4 million yuan, or a loss of 5 fen per share, compared to a loss of 44.8 million yuan, or a loss of 7 fen per share, in the prior-year period.

As of April 22, US$1 was equivalent to 6.50 yuan.