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Roo Hsing Q1 loss narrows YOY

Roo Hsing Co. Ltd said its first-quarter normalized net income came to a loss of 21 Taiwan cents per share, compared with a loss of 27 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$28.2 million, compared with a loss of NT$36.6 million in the year-earlier period.

The normalized profit margin rose to negative 3.6% from negative 6.2% in the year-earlier period.

Total revenue climbed 34.6% year over year to NT$788.4 million from NT$585.9 million, and total operating expenses rose 32.1% year over year to NT$824.0 million from NT$624.0 million.

Reported net income came to a loss of NT$45.4 million, or a loss of 34 cents per share, compared to a loss of NT$56.1 million, or a loss of 41 cents per share, in the prior-year period.

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