North Electro-Optic Co.Ltd. said its first-quarter normalized net income amounted to a loss of 731,020 yuan, compared with income of 1.5 million yuan in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 0.6% from 0.9% in the year-earlier period.
Total revenue totaled 165.9 million yuan, compared with 166.7 million yuan in the year-earlier period, and total operating expenses grew from the prior-year period to 170.0 million yuan from 164.2 million yuan.
Reported net income fell 73.6% from the prior-year period to 609,220 yuan, or 0 fen per share, from 2.3 million yuan, or 1 fen per share.
As of April 21, US$1 was equivalent to 6.48 yuan.