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Beijing Etrol Technologies Q1 loss narrows YOY

Beijing Etrol Technologies Co. Ltd. said its first-quarter normalized net income came to a loss of 1 fen per share, compared with a loss of 2 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 12.0 million yuan, compared with a loss of 12.6 million yuan in the year-earlier period.

The normalized profit margin increased to negative 38.1% from negative 81.7% in the year-earlier period.

Total revenue increased on an annual basis to 31.5 million yuan from 15.4 million yuan, and total operating expenses increased 53.5% from the prior-year period to 50.0 million yuan from 32.6 million yuan.

Reported net income totaled a loss of 15.3 million yuan, or a loss of 2 fen per share, compared to a loss of 12.3 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of April 22, US$1 was equivalent to 6.50 yuan.