Sawang Export PCL said its normalized net income for the first quarter came to a loss of 13 satang per share, compared with a loss of 11 satang 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 3.2 million baht, compared with a loss of 2.6 million baht in the year-earlier period.

The normalized profit margin fell to negative 6.5% from negative 6.3% in the year-earlier period.

Total revenue climbed 20.8% on an annual basis to 49.9 million baht from 41.3 million baht, and total operating expenses increased 20.6% from the prior-year period to 55.1 million baht from 45.7 million baht.

Reported net income came to a loss of 5.5 million baht, or a loss of 23 satang per share, compared to a loss of 4.1 million baht, or a loss of 17 satang per share, in the prior-year period.

As of May 16, US$1 was equivalent to 35.39 baht.