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FX Hotels Q1 loss widens YOY

FX Hotels Group Inc. said its normalized net income for the first quarter came to a loss of 79 Taiwan cents per share, compared with a loss of 31 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$30.2 million, compared with a loss of NT$11.6 million in the prior-year period.

The normalized profit margin fell to negative 14.9% from negative 5.5% in the year-earlier period.

Total revenue declined on an annual basis to NT$203.3 million from NT$211.7 million, and total operating expenses decreased on an annual basis to NT$235.3 million from NT$238.9 million.

Reported net income came to a loss of NT$48.3 million, or a loss of NT$1.27 per share, compared to a loss of NT$17.7 million, or a loss of 47 cents per share, in the year-earlier period.

As of May 15, US$1 was equivalent to NT$30.44.