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T-Flex Techvest swings to loss in Q1

T-Flex Techvest PCB Co. Ltd. said its normalized net income for the first quarter was a loss of 17 Taiwan cents per share, compared with 5 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$11.8 million, compared with income of NT$3.5 million in the year-earlier period.

The normalized profit margin fell to negative 2.2% from 1.8% in the year-earlier period.

Total revenue decreased 25.8% on an annual basis to NT$149.3 million from NT$201.3 million, and total operating expenses decreased 13.9% from the prior-year period to NT$168.4 million from NT$195.6 million.

Reported net income totaled a loss of NT$19.6 million, or a loss of 28 cents per share, compared to income of NT$4.9 million, or 7 cents per share, in the year-earlier period.

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