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Kandi Technologies swings to loss in Q1

4604635 said its first-quarter normalized net income was a loss of 3 cents per share, compared with 10 cents 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 $1.6 million, compared with income of $4.5 million in the prior-year period.

The normalized profit margin fell to negative 3.1% from 10.2% in the year-earlier period.

otal revenue increased 15.7% on an annual basis to $50.7 million from $43.8 million, and total operating expenses climbed 24.7 Kandi Technologies Group Inc.