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Sing Lee Software (Group) Q1 loss narrows YOY

Sing Lee Software (Group) Ltd. said its first-quarter normalized net income came to a loss of 5.0 million yuan, compared with a loss of 6.3 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 105.1% from negative 189.3% in the year-earlier period.

Total revenue increased 41.2% year over year to 4.7 million yuan from 3.3 million yuan, and total operating expenses rose 6.0% on an annual basis to 14.0 million yuan from 13.2 million yuan.

Reported net income came to a loss of 8.0 million yuan, or a loss of 1 fen per share, compared to a loss of 10.1 million yuan, or a loss of 1 fen per share, in the prior-year period.

As of May 12, US$1 was equivalent to 6.51 yuan.