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Phonic Corp. Q3 loss widens 37.7% YOY

Phonic Corp. said its normalized net income for the third quarter amounted to a loss of 23 Taiwan cents per share, compared with a loss of 17 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$6.7 million, compared with a loss of NT$4.9 million in the year-earlier period.

The normalized profit margin dropped to negative 8.9% from negative 6.4% in the year-earlier period.

Total revenue came to NT$75.5 million, compared with NT$76.0 million in the prior-year period, and total operating expenses grew from the prior-year period to NT$85.3 million from NT$82.0 million.

Reported net income came to a loss of NT$11.4 million, or a loss of 39 cents per share, compared to a loss of NT$7.6 million, or a loss of 26 cents per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to NT$32.83.