MetaTech (AP) Inc. said its first-quarter normalized net income was a loss of 24 Taiwan cents per share, compared with a loss of 3 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 NT$9.6 million, compared with a loss of NT$883,750 in the prior-year period.

The normalized profit margin declined to negative 1.9% from negative 0.2% in the year-earlier period.

Total revenue decreased on an annual basis to NT$508.8 million from NT$523.0 million, and total operating expenses declined on an annual basis to NT$517.0 million from NT$528.4 million.

Reported net income totaled a loss of NT$15.7 million, or a loss of 39 cents per share, compared to a loss of NT$3.2 million, or a loss of 10 cents per share, in the year-earlier period.

As of May 16, US$1 was equivalent to NT$32.63.