Gudeng Precision Industrial Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 34 Taiwan cents per share, compared with a loss of 27 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$21.0 million, compared with a loss of NT$17.0 million in the year-earlier period.

The normalized profit margin dropped to negative 4.2% from negative 3.7% in the year-earlier period.

Total revenue rose 7.3% on an annual basis to NT$499.5 million from NT$465.4 million, and total operating expenses increased 7.7% on an annual basis to NT$527.0 million from NT$489.6 million.

Reported net income came to a loss of NT$27.2 million, or a loss of 44 cents per share, compared to a loss of NT$23.1 million, or a loss of 37 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to NT$32.68.