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ChinaCache International Q1 loss widens YOY

ChinaCache International Holdings Ltd. said its normalized net income for the first quarter came to a loss of 3.82 yuan per share, compared with a loss of 11 fen 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 94.3 million yuan, compared with a loss of 2.9 million yuan in the prior-year period.

The normalized profit margin declined to negative 35.2% from negative 0.8% in the year-earlier period.

Total revenue fell 26.4% on an annual basis to 267.8 million yuan from 363.7 million yuan, and total operating expenses increased 13.8% year over year to 415.0 million yuan from 364.8 million yuan.

Reported net income totaled a loss of 138.4 million yuan, or a loss of 5.60 yuan per share, compared to a loss of 4.1 million yuan, or a loss of 20 fen per share, in the prior-year period.

As of May 23, US$1 was equivalent to 6.56 yuan.