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C-Media Electronics Q1 loss widens YOY

C-Media Electronics Inc. said its normalized net income for the first quarter came to a loss of 9 Taiwan cents per share, compared with a loss of 3 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$6.6 million, compared with a loss of NT$2.1 million in the year-earlier period.

The normalized profit margin dropped to negative 8.2% from negative 2.3% in the year-earlier period.

Total revenue declined 9.5% on an annual basis to NT$80.8 million from NT$89.2 million, and total operating expenses fell from the prior-year period to NT$93.8 million from NT$96.4 million.

Reported net income totaled a loss of NT$3.1 million, or a loss of 4 cents per share, compared to a loss of NT$3.1 million, or a loss of 4 cents per share, in the prior-year period.

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