Blackcow Food Co. Ltd. said its first-quarter normalized net income came to a loss of 3 fen per share, compared with 1 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 14.0 million yuan, compared with income of 5.8 million yuan in the prior-year period.
The normalized profit margin declined to negative 8.4% from 3.6% in the year-earlier period.
Total revenue increased 5.0% year over year to 167.7 million yuan from 159.7 million yuan, and total operating expenses increased 24.4% year over year to 183.3 million yuan from 147.4 million yuan.
Reported net income totaled a loss of 18.5 million yuan, or a loss of 4 fen per share, compared to income of 6.5 million yuan, or 1 fen per share, in the prior-year period.
As of April 24, US$1 was equivalent to 6.19 yuan.
