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HC SemiTek Q1 loss widens YOY

HC SemiTek Corp. said its first-quarter normalized net income amounted to a loss of 14.9 million yuan, compared with a loss of 4.4 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 3.0% from negative 2.5% in the year-earlier period.

Total revenue rose 40.4% on an annual basis to 240.3 million yuan from 171.2 million yuan, and total operating expenses climbed 49.3% on an annual basis to 248.3 million yuan from 166.3 million yuan.

Reported net income totaled a loss of 13.9 million yuan, or a loss of 2 fen per share, compared to a loss of 14.1 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of April 25, US$1 was equivalent to 6.49 yuan.