Kino Biotech Co. Ltd. said its first-quarter normalized net income amounted to 9 Taiwan cents per share, a decrease of 24.5% from 12 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$1.8 million, a decrease of 31.9% from NT$2.6 million in the prior-year period.

The normalized profit margin declined to 1.7% from 2.5% in the year-earlier period.

Total revenue increased on an annual basis to NT$106.2 million from NT$102.3 million, and total operating expenses increased 6.6% year over year to NT$105.6 million from NT$99.1 million.

Reported net income fell 29.1% from the prior-year period to NT$2.6 million, or 13 cents per share, from NT$3.7 million, or 17 cents per share.

As of May 15, US$1 was equivalent to NT$30.44.