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Linewell Software Q1 loss widens 77.4% YOY

Linewell Software Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 5.1 million yuan, compared with a loss of 2.9 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 negative 15.9% from negative 19.0% in the year-earlier period.

Total revenue increased 92.1% on an annual basis to 29.0 million yuan from 15.1 million yuan, and total operating expenses grew 43.3% year over year to 41.0 million yuan from 28.6 million yuan.

Reported net income totaled a loss of 12.3 million yuan, or a loss of 3 fen per share, compared to a loss of 3.2 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of April 26, US$1 was equivalent to 6.50 yuan.