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Simula Technology Q1 loss widens YOY

Simula Technology Inc. said its normalized net income for the first quarter was a loss of 34 Taiwan cents per share, compared with a loss of 33 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$13.2 million, compared with a loss of NT$12.7 million in the year-earlier period.

The normalized profit margin increased to negative 3.9% from negative 5.8% in the year-earlier period.

Total revenue rose 53.5% on an annual basis to NT$335.8 million from NT$218.8 million, and total operating expenses increased 43.0% from the prior-year period to NT$357.5 million from NT$249.9 million.

Reported net income totaled a loss of NT$20.9 million, or a loss of 54 cents per share, compared to a loss of NT$24.5 million, or a loss of 63 cents per share, in the prior-year period.

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