HTC has reported net loss of NT$2.616 billion (US$80.59 million) for the first quarter of 2016, which were higher than market expectations and represented the company's fourth quarterly loss in a row.

EPS for the first quarter was negative NT$3.16, higher than market expectation of a loss of NT$2.50-NT$3.00. The loss came even after the company booked in a non-operating income of NT$2.1 billion by the sale of one of its office/factory buildings.

Gross margin tumbled to 9.4% in the first quarter compared to 20% of a year earlier. Meanwhile, operating loss totaled NT$4.8 billion in the January-March period, representing an operating margin of negative 32.4%.

However, buoyed by the recently released products, including the flagship HTC 10, mid-range Desire 825 and 830, as well as the VR device the HTC Vive, the company expects its sales to improve significantly in the second quarter and reach breakeven in the third, according to the company's global sales president and CFO Chia-lin Chang.

Meanwhile, the company also has posted revenues of NT$5.75 billion for April, up 38.9% on month but down 57.5% on year. For the first four months of 2016, revenues amounted to NT$20.57 billion, decreasing 62.64% from a year earlier.