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ABICO-FS Q1 loss narrows YOY

ABICO-FS Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 4 Taiwan cents per share, compared with a loss of 4 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$2.0 million, compared with a loss of NT$2.1 million in the prior-year period.

The normalized profit margin declined to negative 0.4% from negative 0.4% in the year-earlier period.

Total revenue decreased on an annual basis to NT$535.7 million from NT$550.6 million, and total operating expenses came to NT$543.3 million, compared with NT$541.3 million in the prior-year period.

Reported net income came to a loss of NT$10.9 million, or a loss of 21 cents per share, compared to income of NT$30.6 million, or 59 cents per share, in the year-earlier period.

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