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Sunmoon Food Q1 loss widens 44.1% YOY

Sunmoon Food Co. Ltd. said its normalized net income for the first quarter came to a loss of S$602,500, compared with a loss of S$418,130 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 17.1% from negative 21.0% in the year-earlier period.

Total revenue rose 77.4% year over year to S$3.5 million from S$2.0 million, and total operating expenses increased 64.5% year over year to S$4.5 million from S$2.7 million.

Reported net income came to a loss of S$964,000, or a loss of 0 cents per share, compared to a loss of S$669,130, or a loss of 0 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to S$1.37.