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Jiangsu NandaSoft Technology Q1 loss widens 55.9% YOY

Jiangsu NandaSoft Technology Company Ltd. said its first-quarter normalized net income was a loss of 7.9 million yuan, compared with a loss of 5.1 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 climbed to negative 5.6% from negative 6.7% in the year-earlier period.

Total revenue rose 86.7% on an annual basis to 142.6 million yuan from 76.4 million yuan, and total operating expenses increased 94.3% on an annual basis to 149.9 million yuan from 77.1 million yuan.

Reported net income came to a loss of 12.6 million yuan, or a loss of 1 fen per share, compared to a loss of 8.0 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of May 6, US$1 was equivalent to 6.50 yuan.