China Television Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 52 Taiwan cents per share, compared with a loss of NT$1.24 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$37.0 million, compared with a loss of NT$87.6 million in the prior-year period.

The normalized profit margin climbed to negative 19.5% from negative 56.0% in the year-earlier period.

Total revenue grew 21.2% on an annual basis to NT$189.5 million from NT$156.4 million, and total operating expenses decreased 10.1% on an annual basis to NT$272.2 million from NT$302.7 million.

Reported net income totaled a loss of NT$59.4 million, or a loss of 84 cents per share, compared to a loss of NT$137.6 million, or a loss of NT$1.95 per share, in the year-earlier period.

As of May 12, US$1 was equivalent to NT$32.56.