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PCI-Suntek Technology Q1 loss widens 40.1% YOY

PCI-Suntek Technology Co.Ltd. said its first-quarter normalized net income was a loss of 3.5 million yuan, compared with a loss of 2.5 million yuan in the prior-year period.

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

The normalized profit margin fell to negative 0.8% from negative 0.7% in the year-earlier period.

Total revenue increased 27.1% year over year to 454.5 million yuan from 357.6 million yuan, and total operating expenses rose 26.0% year over year to 465.5 million yuan from 369.5 million yuan.

Reported net income came to a loss of 11.3 million yuan, or a loss of 1 fen per share, compared to a loss of 13.3 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 6.48 yuan.