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Hytera Communications Q1 loss narrows YOY

Hytera Communications Corporation Ltd. said its first-quarter normalized net income was a loss of 3 fen per share, compared with a loss of 3 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 44.5 million yuan, compared with a loss of 45.8 million yuan in the prior-year period.

The normalized profit margin rose to negative 12.3% from negative 19.9% in the year-earlier period.

Total revenue increased 49.1% year over year to 342.2 million yuan from 229.5 million yuan, and total operating expenses rose 43.9% from the prior-year period to 413.9 million yuan from 287.7 million yuan.

Reported net income totaled a loss of 71.3 million yuan, or a loss of 5 fen per share, compared to a loss of 64.4 million yuan, or a loss of 4 fen per share, in the year-earlier period.

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