Kinko Optical Co. Ltd. said its first-quarter normalized net income amounted to a loss of 2 Taiwan cents per share, compared with a loss of 11 cents 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 NT$3.6 million, compared with a loss of NT$18.3 million in the year-earlier period.

The normalized profit margin rose to negative 0.4% from negative 1.9% in the year-earlier period.

Total revenue fell year over year to NT$921.0 million from NT$941.5 million, and total operating expenses fell year over year to NT$960.7 million from NT$998.8 million.

Reported net income came to a loss of NT$6.2 million, or a loss of 4 cents per share, compared to a loss of NT$26.5 million, or a loss of 16 cents per share, in the prior-year period.

As of May 12, US$1 was equivalent to NT$32.56.