Pranda Jewelry Public Co. Ltd said its first-quarter normalized net income was a loss of 22 satang per share, compared with a loss of 15 satang 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 88.9 million baht, compared with a loss of 61.6 million baht in the prior-year period.

The normalized profit margin declined to negative 14.5% from negative 8.9% in the year-earlier period.

Total revenue declined 11.7% year over year to 612.6 million baht from 693.6 million baht, and total operating expenses came to 722.7 million baht, compared with 722.9 million baht in the year-earlier period.

Reported net income totaled a loss of 143.7 million baht, or a loss of 36 satang per share, compared to a loss of 105.3 million baht, or a loss of 26 satang per share, in the year-earlier period.

As of May 13, US$1 was equivalent to 35.48 baht.