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Easycall Communications swings to loss in Q1

Easycall Communications Philippines Inc. said its first-quarter normalized net income amounted to a loss of 418,780 pesos, compared with income of 1.8 million pesos in the prior-year period.

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

The normalized profit margin declined to negative 4.7% from 25.9% in the year-earlier period.

Total revenue rose 27.1% year over year to 8.9 million pesos from 7.0 million pesos, and total operating expenses rose 55.1% year over year to 9.2 million pesos from 5.9 million pesos.

Reported net income came to a loss of 730,610 pesos, or a loss of 0 centavos per share, compared to income of 2.9 million pesos, or 2 centavos per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 46.47 Philippine pesos.