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Prolific Technology Q1 loss widens 13.5% YOY

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Prolific Technology Q1 loss widens 13.5% YOY

Prolific Technology Inc. said its first-quarter normalized net income amounted to a loss of 21 Taiwan cents per share, compared with a loss of 18 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$17.0 million, compared with a loss of NT$15.0 million in the prior-year period.

The normalized profit margin rose to negative 17.1% from negative 18.3% in the year-earlier period.

Total revenue rose 21.6% year over year to NT$99.6 million from NT$81.9 million, and total operating expenses grew 17.4% on an annual basis to NT$129.0 million from NT$109.8 million.

Reported net income totaled a loss of NT$27.2 million, or a loss of 33 cents per share, compared to a loss of NT$23.8 million, or a loss of 28 cents per share, in the prior-year period.

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