Acelon Chemicals & Fiber Corp. said its normalized net income for the first quarter amounted to a loss of NT$31.4 million, compared with a loss of NT$280,000 in the prior-year period.

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

The normalized profit margin dropped to negative 3.6% from negative 0.0% in the year-earlier period.

Total revenue decreased 17.2% on an annual basis to NT$868.0 million from NT$1.05 billion, and total operating expenses decreased 13.3% on an annual basis to NT$905.8 million from NT$1.04 billion.

Reported net income came to a loss of NT$46.7 million, or a loss of 42 cents per share, compared to income of NT$252,000, or 0 cents per share, in the year-earlier period.

As of May 13, US$1 was equivalent to NT$32.68.