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Cayenne Entertainment Technology Q1 loss narrows YOY

Cayenne Entertainment Technology Co. Ltd. said its normalized net income for the first quarter came to a loss of 57 Taiwan cents per share, compared with a loss of 91 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$15.5 million, compared with a loss of NT$24.7 million in the year-earlier period.

The normalized profit margin climbed to negative 13.4% from negative 14.8% in the year-earlier period.

Total revenue declined 30.7% on an annual basis to NT$115.9 million from NT$167.2 million, and total operating expenses declined 36.0% year over year to NT$137.1 million from NT$214.1 million.

Reported net income totaled a loss of NT$18.4 million, or a loss of 67 cents per share, compared to a loss of NT$43.4 million, or a loss of NT$1.59 per share, in the year-earlier period.

As of May 13, US$1 was equivalent to NT$32.68.