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Xi'an Haitiantian Q1 loss widens 32.8% YOY

Xi'an Haitian Antenna Technologies Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 3.0 million yuan, compared with a loss of 2.3 million yuan in the prior-year period.

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

The normalized profit margin was 193.7%.

Total revenue grew on an annual basis to 1.5 million yuan from 423,000 yuan, and total operating expenses climbed 96.4% from the prior-year period to 6.0 million yuan from 3.0 million yuan.

Reported net income totaled a loss of 4.8 million yuan, or a loss of 0 fen per share, compared to a loss of 3.6 million yuan, or a loss of 0 fen per share, in the prior-year period.

As of May 12, US$1 was equivalent to 6.51 yuan.