Yuan Jiu Inc. said its normalized net income for the first quarter amounted to a loss of 41 Taiwan cents per share, compared with a loss of 41 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$12.9 million, compared with a loss of NT$12.3 million in the year-earlier period.

The normalized profit margin dropped to negative 22.8% from negative 11.1% in the year-earlier period.

Total revenue fell 49.2% year over year to NT$56.4 million from NT$111.0 million, and total operating expenses declined 29.9% year over year to NT$90.6 million from NT$129.2 million.

Reported net income came to a loss of NT$34.7 million, or a loss of NT$1.11 per share, compared to a loss of NT$20.1 million, or a loss of 69 cents per share, in the prior-year period.

As of May 16, US$1 was equivalent to NT$32.63.