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Hold Jinn Electronics Q1 loss narrows YOY

Hold Jinn Electronics Co. Ltd said its normalized net income for the first quarter was a loss of 37 Taiwan cents per share, compared with a loss of 74 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$20.2 million, compared with a loss of NT$40.6 million in the prior-year period.

The normalized profit margin rose to negative 14.1% from negative 30.0% in the year-earlier period.

Total revenue declined 12.5% year over year to NT$118.3 million from NT$135.2 million, and total operating expenses fell 30.4% on an annual basis to NT$141.4 million from NT$203.1 million.

Reported net income totaled a loss of NT$32.3 million, or a loss of 59 cents per share, compared to a loss of NT$59.4 million, or a loss of NT$1.09 per share, in the prior-year period.

As of May 16, US$1 was equivalent to NT$32.63.