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Jian Sin Industrial Q1 loss narrows YOY

Jian Sin Industrial Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 29 Taiwan cents per share, compared with a loss of 58 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$8.5 million, compared with a loss of NT$15.5 million in the prior-year period.

The normalized profit margin increased to negative 4.0% from negative 8.3% in the year-earlier period.

Total revenue grew 14.9% year over year to NT$215.4 million from NT$187.4 million, and total operating expenses rose 9.0% from the prior-year period to NT$227.5 million from NT$208.8 million.

Reported net income totaled a loss of NT$9.3 million, or a loss of 32 cents per share, compared to a loss of NT$24.9 million, or a loss of 93 cents per share, in the prior-year period.

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