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China Auto Logistics Q1 loss narrows YOY

China Auto Logistics Inc. said its normalized net income for the first quarter amounted to a loss of 18 cents per share, compared with a loss of 45 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 $717,720, compared with a loss of $1.8 million in the prior-year period.

The normalized profit margin increased to negative 0.1% from negative 2.1% in the year-earlier period.

Total revenue increased 57.3% year over year to $137.4 million from $87.4 million, and total operating expenses rose 55.8% year over year to $137.3 million from $88.1 million.

Reported net income came to a loss of $1.1 million, or a loss of 26 cents per share, compared to a loss of $2.7 million, or a loss of 66 cents per share, in the year-earlier period.