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China Internet Cafe Q1 loss narrows YOY

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China Internet Cafe Q1 loss narrows YOY

China Internet Cafe Holdings Group Inc. said its normalized net income for the first quarter was a loss of 6 cents per share, compared with a loss of 6 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $315,340, compared with a loss of $343,960 in the year-earlier period.

The normalized profit margin dropped to negative 112.6% from negative 91.3% in the year-earlier period.

Total revenue decreased 25.7% on an annual basis to $279,970 from $376,860, and total operating expenses declined 15.4% from the prior-year period to $801,070 from $947,110.

Reported net income totaled a loss of $498,420, or a loss of 9 cents per share, compared to a loss of $553,800, or a loss of 10 cents per share, in the prior-year period.