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.