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HannsTouch Solution swings to loss in Q1

HannsTouch Solution Inc. said its normalized net income for the first quarter was a loss of 30 Taiwan cents per share, compared with 15 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$221.3 million, compared with income of NT$107.4 million in the year-earlier period.

The normalized profit margin declined to negative 39.5% from 8.1% in the year-earlier period.

Total revenue declined 57.8% year over year to NT$559.5 million from NT$1.33 billion, and total operating expenses decreased 22.5% from the prior-year period to NT$861.3 million from NT$1.11 billion.

Reported net income came to a loss of NT$412.7 million, or a loss of 56 cents per share, compared to income of NT$186.5 million, or 25 cents per share, in the prior-year period.

As of May 12, US$1 was equivalent to NT$32.56.