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Leadtek Research swings to loss in Q1

Leadtek Research Inc. said its first-quarter normalized net income came to a loss of 45 Taiwan cents per share, compared with 30 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$24.1 million, compared with income of NT$16.2 million in the year-earlier period.

The normalized profit margin declined to negative 3.6% from 3.0% in the year-earlier period.

Total revenue increased 14.8% year over year to NT$621.0 million from NT$541.1 million, and total operating expenses grew 27.8% year over year to NT$656.7 million from NT$513.7 million.

Reported net income totaled a loss of NT$39.7 million, or a loss of 74 cents per share, compared to income of NT$163.5 million, or NT$3.05 per share, in the year-earlier period.

As of May 12, US$1 was equivalent to NT$32.56.