Ai Conversation Systems Ltd. said its normalized net income for the first quarter came to a loss of 866,630 shekels, compared with a loss of 690,000 shekels in the year-earlier period.

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

Total revenue climbed year over year to 5.5 million shekels from 1.5 million shekels, and total operating expenses increased year over year to 6.5 million shekels from 2.7 million shekels.

Reported net income totaled a loss of 1.4 million shekels, or a loss of 2 agorot per share, compared to a loss of 1.1 million shekels, or a loss of 1 agorot per share, in the year-earlier period.

As of May 23, US$1 was equivalent to 3.87 shekels.