D.B.E. Gurney Resources Bhd. said its normalized net income for the first quarter came to a loss of 1.8 million ringgits, compared with a loss of 1.3 million ringgits in the year-earlier period.

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

The normalized profit margin dropped to negative 4.2% from negative 3.4% in the year-earlier period.

Total revenue grew 16.9% year over year to 44.2 million ringgits from 37.8 million ringgits, and total operating expenses climbed 18.7% from the prior-year period to 46.7 million ringgits from 39.3 million ringgits.

Reported net income totaled a loss of 2.8 million ringgits, or a loss of 0 sen per share, compared to a loss of 2.1 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of May 29, US$1 was equivalent to 3.66 ringgits.