Microcosm Technology Co. Ltd. said its first-quarter normalized net income amounted to a loss of 11 Taiwan cents per share, compared with a loss of 4 cents 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 NT$7.5 million, compared with a loss of NT$2.6 million in the prior-year period.

The normalized profit margin dropped to negative 7.8% from negative 1.7% in the year-earlier period.

Total revenue declined 37.3% year over year to NT$96.3 million from NT$153.5 million, and total operating expenses declined 33.1% from the prior-year period to NT$103.1 million from NT$154.2 million.

Reported net income totaled a loss of NT$13.9 million, or a loss of 20 cents per share, compared to a loss of NT$4.2 million, or a loss of 6 cents per share, in the year-earlier period.

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