Troy Information Technology Co. Ltd. said its first-quarter normalized net income amounted to a loss of 7.4 million yuan, compared with a loss of 630,480 yuan in the year-earlier period.

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

The normalized profit margin declined to negative 6.0% from negative 1.9% in the year-earlier period.

Total revenue grew on an annual basis to 107.7 million yuan from 33.4 million yuan, and total operating expenses increased on an annual basis to 118.2 million yuan from 35.2 million yuan.

Reported net income came to a loss of 9.8 million yuan, or a loss of 2 fen per share, compared to a loss of 1.2 million yuan, or a loss of 0 fen per share, in the prior-year period.

As of April 22, US$1 was equivalent to 6.50 yuan.