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AverLogic Technologies Q1 loss widens 81.6% YOY

AverLogic Technologies Corp. said its first-quarter normalized net income was a loss of 45 Taiwan cents per share, compared with a loss of 25 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$9.1 million, compared with a loss of NT$5.0 million in the year-earlier period.

The normalized profit margin fell to negative 83.9% from negative 29.5% in the year-earlier period.

Total revenue fell 36.2% year over year to NT$10.8 million from NT$17.0 million, and total operating expenses totaled NT$25.5 million, compared with NT$25.6 million in the year-earlier period.

Reported net income came to a loss of NT$12.1 million, or a loss of 60 cents per share, compared to a loss of NT$6.3 million, or a loss of 31 cents per share, in the prior-year period.

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