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Nan Tsan Q1 loss narrows YOY

Nan Tsan Co. Ltd. said its first-quarter normalized net income amounted to a loss of 3 Taiwan cents per share, compared with a loss of 22 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$1.8 million, compared with a loss of NT$13.2 million in the year-earlier period.

The normalized profit margin climbed to negative 0.4% from negative 2.3% in the year-earlier period.

Total revenue decreased 24.1% year over year to NT$425.8 million from NT$561.2 million, and total operating expenses declined 25.9% on an annual basis to NT$428.8 million from NT$578.7 million.

Reported net income totaled a loss of NT$7.9 million, or a loss of 13 cents per share, compared to a loss of NT$21.9 million, or a loss of 37 cents per share, in the prior-year period.

As of April 30, US$1 was equivalent to NT$30.64.