HTM International Holding Ltd. said its first-quarter normalized net income was a loss of 42 Taiwan cents per share, compared with a loss of 7 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$15.7 million, compared with a loss of NT$2.6 million in the prior-year period.

The normalized profit margin declined to negative 15.5% from negative 1.6% in the year-earlier period.

Total revenue fell 35.2% on an annual basis to NT$101.4 million from NT$156.5 million, and total operating expenses fell 19.1% on an annual basis to NT$126.4 million from NT$156.3 million.

Reported net income totaled a loss of NT$22.6 million, or a loss of 61 cents per share, compared to a loss of NT$3.7 million, or a loss of 10 cents per share, in the year-earlier period.

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