Carnival Industrial Corp. said its normalized net income for the first quarter amounted to a loss of 21 Taiwan cents per share, compared with a loss of 16 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 NT$77.9 million, compared with a loss of NT$60.9 million in the prior-year period.

The normalized profit margin declined to negative 8.7% from negative 6.5% in the year-earlier period.

Total revenue declined year over year to NT$893.0 million from NT$938.8 million, and total operating expenses declined from the prior-year period to NT$1.02 billion from NT$1.03 billion.

Reported net income came to a loss of NT$121.5 million, or a loss of 32 cents per share, compared to a loss of NT$93.1 million, or a loss of 25 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to NT$32.68.