Shenzhen Terca Technology Co. Ltd. said its normalized net income for the first quarter came to 2.4 million yuan, a gain of 21.4% from 2.0 million yuan in the prior-year period.

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

The normalized profit margin rose to 7.9% from 5.6% in the year-earlier period.

Total revenue fell 13.4% on an annual basis to 30.9 million yuan from 35.7 million yuan, and total operating expenses decreased 16.5% from the prior-year period to 27.4 million yuan from 32.9 million yuan.

Reported net income increased 23.6% from the prior-year period to 3.2 million yuan, or 2 fen per share, from 2.6 million yuan, or 1 fen per share.

As of April 28, US$1 was equivalent to 6.48 yuan.