Beijing Jingxi Culture and Tourism Co. Ltd. said its normalized net income for the first quarter came to a loss of 3 fen per share, compared with a loss of 1 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 12.2 million yuan, compared with a loss of 4.2 million yuan in the prior-year period.

The normalized profit margin declined to negative 26.7% from negative 9.7% in the year-earlier period.

Total revenue increased on an annual basis to 44.9 million yuan from 43.2 million yuan, and total operating expenses rose 31.7% year over year to 71.9 million yuan from 54.6 million yuan.

Reported net income came to a loss of 25.0 million yuan, or a loss of 6 fen per share, compared to a loss of 1.8 million yuan, or a loss of 0 fen per share, in the prior-year period.

As of April 29, US$1 was equivalent to 6.48 yuan.