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Datang Telecom Technology Q1 loss widens 11.1% YOY

Datang Telecom Technology Co. Ltd. said its normalized net income for the first quarter came to a loss of 11 fen per share, compared with a loss of 10 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 99.8 million yuan, compared with a loss of 89.8 million yuan in the prior-year period.

The normalized profit margin climbed to negative 4.9% from negative 10.3% in the year-earlier period.

Total revenue grew on an annual basis to 1.91 billion yuan from 874.0 million yuan, and total operating expenses grew from the prior-year period to 2.00 billion yuan from 945.9 million yuan.

Reported net income came to a loss of 151.3 million yuan, or a loss of 17 fen per share, compared to a loss of 151.6 million yuan, or a loss of 17 fen per share, in the year-earlier period.

As of April 27, US$1 was equivalent to 6.50 yuan.