Dhofar Cattle Feed Co. SAOG said its first-quarter normalized net income was a loss of 131,250 Oman rials, compared with a loss of 52,630 rials in the year-earlier period.

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

The normalized profit margin fell to negative 1.3% from negative 0.5% in the year-earlier period.

Total revenue decreased year over year to 10.3 million rials from 10.7 million rials, and total operating expenses fell from the prior-year period to 10.2 million rials from 10.4 million rials.

Reported net income came to a loss of 197,000 rials, or a loss of 2 baiza per share, compared to a loss of 67,000 rials, or a loss of 1 baiza per share, in the prior-year period.

As of May 10, US$1 was equivalent to 385 Oman baiza.