Biometric data company Huami Corporation (NYSE:HMI) disclosed on Monday its net income of CNY14.4m for the first quarter ended 31 March 2018.

This is an improvement when compared with net loss of CNY4.5m for the first quarter of 2017.

Basic and diluted net income per share of CNY0.05 and CNY0.05, respectively, were recorded for the first quarter 2018, a growth over basic and diluted net loss per share of CNY0.23 and CNY0.23, respectively, for the first quarter of 2017.

Revenues of CNY585.9m were announced for the first quarter 2018, up 77.0% to from CNY331.1m in the first quarter of 2017, due to an increase in the shipments of both Xiaomi wearable products and self-branded products.

Research and development expenses of CNY73.8m were reported for the first quarter 2018, a rise of 82.3% to from CNY40.5m for the first quarter 2017, primarily due to an increase in share-based compensation expenses to retain research and development personnel.

(USD1=CNY6.38640)