Taiwan Fructose Co. Ltd. said its normalized net income for the first quarter amounted to a loss of NT$137,880, compared with income of NT$9.2 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.0% from 1.1% in the year-earlier period.

Total revenue grew year over year to NT$819.4 million from NT$808.0 million, and total operating expenses grew from the prior-year period to NT$791.4 million from NT$771.2 million.

Reported net income came to a loss of NT$3.3 million, or a loss of 2 cents per share, compared to income of NT$18.4 million, or 11 cents per share, in the year-earlier period.

As of May 15, US$1 was equivalent to NT$30.44.