HwaCom Systems Inc. said its first-quarter normalized net income was a loss of 39 Taiwan cents per share, compared with a loss of 33 cents 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 NT$39.1 million, compared with a loss of NT$33.9 million in the year-earlier period.

The normalized profit margin dropped to negative 5.0% from negative 4.3% in the year-earlier period.

Total revenue decreased year over year to NT$776.3 million from NT$795.5 million, and total operating expenses came to NT$841.3 million, compared with NT$849.5 million in the year-earlier period.

Reported net income came to a loss of NT$63.1 million, or a loss of 63 cents per share, compared to a loss of NT$45.7 million, or a loss of 44 cents per share, in the year-earlier period.

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