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Shenzhen Dvision Q1 loss narrows YOY

Shenzhen Dvision Co.Ltd. said its first-quarter normalized net income amounted to a loss of 3 fen per share, compared with a loss of 3 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 7.6 million yuan, compared with a loss of 10.5 million yuan in the year-earlier period.

The normalized profit margin rose to negative 21.0% from negative 108.8% in the year-earlier period.

Total revenue grew year over year to 34.8 million yuan from 9.7 million yuan, and total operating expenses grew 76.7% year over year to 50.9 million yuan from 28.8 million yuan.

Reported net income came to a loss of 12.9 million yuan, or a loss of 4 fen per share, compared to a loss of 19.5 million yuan, or a loss of 6 fen per share, in the prior-year period.

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