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Asiasoft Q1 loss narrows YOY

Asiasoft Corp. Public Co. Ltd. said its first-quarter normalized net income was a loss of 6 satang per share, compared with a loss of 10 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 17.7 million baht, compared with a loss of 29.9 million baht in the year-earlier period.

The normalized profit margin rose to negative 8.3% from negative 13.1% in the year-earlier period.

Total revenue decreased 20.5% year over year to 182.0 million baht from 229.1 million baht, and total operating expenses fell 21.7% on an annual basis to 219.6 million baht from 280.4 million baht.

Reported net income came to a loss of 38.7 million baht, or a loss of 13 satang per share, compared to a loss of 46.5 million baht, or a loss of 15 satang per share, in the prior-year period.

As of May 12, US$1 was equivalent to 35.33 baht.