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AIPTEK International Q3 loss narrows YOY

AIPTEK International Inc. said its normalized net income for the third quarter was a loss of 3 Taiwan cents per share, compared with a loss of 17 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$3.0 million, compared with a loss of NT$11.3 million in the year-earlier period.

The normalized profit margin increased to 7.4% from negative 27.8% in the year-earlier period.

Total revenue declined 50.8% year over year to NT$20.0 million from NT$40.6 million, and total operating expenses declined 40.7% on an annual basis to NT$35.0 million from NT$59.0 million.

Reported net income totaled a loss of NT$10.3 million, or a loss of 11 cents per share, compared to a loss of NT$18.3 million, or a loss of 28 cents per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to NT$32.83.