Holiday Entertainment Co. Ltd. said its first-quarter normalized net income was NT$1.05 per share, a decline of 35.5% from NT$1.63 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$154.6 million, a decrease of 35.5% from NT$239.6 million in the year-earlier period.

The normalized profit margin fell to 20.2% from 27.2% in the year-earlier period.

Total revenue declined 12.9% year over year to NT$766.8 million from NT$880.1 million, and total operating expenses fell 8.4% on an annual basis to NT$583.7 million from NT$637.0 million.

Reported net income fell 40.0% year over year to NT$216.6 million, or NT$1.47 per share, from NT$361.0 million, or NT$2.45 per share.

As of May 6, US$1 was equivalent to NT$32.39.