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Wuhan Huazhong Numerical Control Q1 loss widens 66.7% YOY

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Wuhan Huazhong Numerical Control Q1 loss widens 66.7% YOY

Wuhan Huazhong Numerical Control Co.Ltd. said its normalized net income for the first quarter was a loss of 10 fen per share, compared with a loss of 6 fen 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 15.5 million yuan, compared with a loss of 9.3 million yuan in the prior-year period.

The normalized profit margin increased to negative 8.4% from negative 10.1% in the year-earlier period.

Total revenue rose 36.5% year over year to 124.7 million yuan from 91.4 million yuan, and total operating expenses climbed 23.7% on an annual basis to 153.5 million yuan from 124.1 million yuan.

Reported net income totaled a loss of 21.4 million yuan, or a loss of 13 fen per share, compared to a loss of 18.0 million yuan, or a loss of 11 fen per share, in the year-earlier period.

As of April 25, US$1 was equivalent to 6.49 yuan.