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FOCI Fiber Optic Communications Q1 loss widens YOY

FOCI Fiber Optic Communications Inc. said its normalized net income for the first quarter came to a loss of 47 Taiwan cents per share, compared with a loss of 3 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$35.7 million, compared with a loss of NT$2.1 million in the prior-year period.

The normalized profit margin declined to negative 10.4% from negative 1.0% in the year-earlier period.

Total revenue increased 63.5% year over year to NT$343.2 million from NT$210.0 million, and total operating expenses grew 69.8% on an annual basis to NT$367.9 million from NT$216.7 million.

Reported net income totaled NT$116.8 million, or NT$1.52 per share, compared to a loss of NT$5.7 million, or a loss of 7 cents per share, in the prior-year period.

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