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Tianjin Printronics Circuit Q1 loss widens YOY

Tianjin Printronics Circuit Corp. said its first-quarter normalized net income came to a loss of 4 fen per share, compared with a loss of 2 fen 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 9.6 million yuan, compared with a loss of 4.7 million yuan in the prior-year period.

The normalized profit margin dropped to negative 11.6% from negative 4.8% in the year-earlier period.

Total revenue declined 17.1% on an annual basis to 80.9 million yuan from 97.6 million yuan, and total operating expenses decreased 8.0% on an annual basis to 96.8 million yuan from 105.2 million yuan.

Reported net income came to a loss of 16.1 million yuan, or a loss of 7 fen per share, compared to a loss of 7.9 million yuan, or a loss of 3 fen per share, in the prior-year period.

As of April 29, US$1 was equivalent to 6.48 yuan.