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Antec Q1 loss narrows YOY

Antec Inc. said its normalized net income for the first quarter came to a loss of NT$17,630, compared with a loss of NT$7.4 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 0.0% from negative 2.2% in the year-earlier period.

Total revenue decreased 17.0% on an annual basis to NT$283.5 million from NT$341.8 million, and total operating expenses declined 19.5% from the prior-year period to NT$282.1 million from NT$350.4 million.

Reported net income came to a loss of NT$20.5 million, or a loss of 61 cents per share, compared to a loss of NT$9.6 million, or a loss of 28 cents per share, in the year-earlier period.

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