Ezfly International Travel Agent Co. Ltd. said its first-quarter normalized net income was 17 Taiwan cents per share, a decline of 55.1% from 38 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 NT$5.2 million, a decrease of 47.0% from NT$9.7 million in the year-earlier period.

The normalized profit margin fell to 1.2% from 2.6% in the year-earlier period.

Total revenue climbed 8.7% year over year to NT$413.7 million from NT$380.7 million, and total operating expenses rose 10.4% on an annual basis to NT$405.5 million from NT$367.2 million.

Reported net income decreased 40.9% year over year to NT$7.3 million, or 24 cents per share, from NT$12.4 million, or 48 cents per share.

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