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Star Lake Bioscience Q1 loss widens 65.8% YOY

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Star Lake Bioscience Q1 loss widens 65.8% YOY

Star Lake Bioscience Co. Inc. Zhaoqing Guangdong said its first-quarter normalized net income came to a loss of 3 fen per share, compared with a loss of 2 fen 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 21.4 million yuan, compared with a loss of 12.9 million yuan in the prior-year period.

The normalized profit margin dropped to negative 9.0% from negative 6.9% in the year-earlier period.

Total revenue grew 21.7% on an annual basis to 227.9 million yuan from 187.2 million yuan, and total operating expenses increased 27.9% on an annual basis to 253.5 million yuan from 198.2 million yuan.

Reported net income came to a loss of 49.3 million yuan, or a loss of 8 fen per share, compared to a loss of 57.4 million yuan, or a loss of 10 fen per share, in the year-earlier period.

As of April 27, US$1 was equivalent to 6.22 yuan.