Quang Viet Enterprise Co., Ltd. said its first-quarter normalized net income amounted to a loss of 87 Taiwan cents per share, compared with a loss of 72 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$79.9 million, compared with a loss of NT$66.3 million in the year-earlier period.

The normalized profit margin increased to negative 11.7% from negative 11.9% in the year-earlier period.

Total revenue rose 21.9% year over year to NT$681.7 million from NT$559.3 million, and total operating expenses increased 22.5% on an annual basis to NT$852.2 million from NT$695.9 million.

Reported net income totaled a loss of NT$87.3 million, or a loss of 95 cents per share, compared to a loss of NT$79.3 million, or a loss of 86 cents per share, in the year-earlier period.

As of May 30, US$1 was equivalent to NT$32.63.