Vimicro International Corp. (VIMC: Quote) Wednesday said its loss for the first quarter narrowed from last year, due mainly to lower operating expenses. Last year's results included a loss from discontinued operations.
The Beijing, China-based company's attributable net loss for the first quarter was $3.68 million or $0.03 per share, compared to $5.96 million or $0.04 per share last year. On American Depositary Share or ADS basis, loss narrowed to $0.11 from $0.16 last year.
For the quarter, adjusted loss attributable to the company widened to $3.50 million from $5.05 million in the similar quarter last year.
For the quarter, loss from continuing operations increased to $5.52 million or $0.03 per share from $5.28 million or $0.02 per share in the year-ago quarter. On ADS basis, loss widened to $0.11 from $0.09 last year.
Adjusted loss from continuing operations increased to $0.10 per share from $0.07 per share last year.
Comprehensive loss attributable to the company narrowed to $3.66 million from $6.35 million last year.
Total revenues for the quarter dropped to $11.57 million from $12.11 million in the prior-year quarter.
For the quarter, total operating expenses decreased to $9.0 million from $10.69 million in the year-ago quarter. Loss from discontinued operations were $2.60 million.
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by RTT Staff Writer
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