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Nantian Q1 loss narrows YOY

Yunnan Nantian Electronics Information Co.Ltd. said its first-quarter normalized net income was a loss of 11 fen per share, compared with a loss of 16 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 27.8 million yuan, compared with a loss of 37.6 million yuan in the year-earlier period.

The normalized profit margin increased to negative 9.2% from negative 12.2% in the year-earlier period.

Total revenue fell 7.0% on an annual basis to 286.0 million yuan from 307.6 million yuan, and total operating expenses fell 8.9% year over year to 332.1 million yuan from 364.4 million yuan.

Reported net income totaled a loss of 49.7 million yuan, or a loss of 20 fen per share, compared to a loss of 63.1 million yuan, or a loss of 26 fen per share, in the year-earlier period.

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