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Asia Electronic Material Q1 loss narrows YOY

Asia Electronic Material Co. Ltd. said its first-quarter normalized net income amounted to a loss of 22 Taiwan cents per share, compared with a loss of 38 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$21.2 million, compared with a loss of NT$37.4 million in the year-earlier period.

The normalized profit margin increased to negative 7.7% from negative 10.4% in the year-earlier period.

Total revenue declined 23.6% on an annual basis to NT$274.0 million from NT$358.4 million, and total operating expenses decreased 26.1% on an annual basis to NT$291.4 million from NT$394.4 million.

Reported net income came to a loss of NT$32.4 million, or a loss of 33 cents per share, compared to a loss of NT$60.0 million, or a loss of 61 cents per share, in the year-earlier period.

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