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China Netcom Technology Q1 loss narrows YOY

4349154 said its first-quarter normalized net income amounted to a loss of HK$4.4 million, compared with a loss of HK$11.0 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue fell 13.5% on an annual basis to HK$244,000 from HK$282,000, and total operating expenses fell 58.8% on an annual basis to HK$7.4 million from HK$17.9 million.

eported net income came to a loss of HK$7.0 million, or a loss of 0 cents per share, compared to a loss of HK$16.2 million, or a loss of 1 cents per share, in the prior-year period.China Netcom Technology Holdings Ltd

4349154 said its first-quarter normalized net income amounted to a loss of HK$4.4 million, compared with a loss of HK$11.0 million in the year-earlier period.