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Simat Technologies Q1 loss narrows YOY

Simat Technologies Public Co. Ltd. said its normalized net income for the first quarter came to a loss of 3 satang per share, compared with a loss of 4 satang 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 11.9 million baht, compared with a loss of 15.0 million baht in the year-earlier period.

The normalized profit margin dropped to negative 4.4% from negative 3.7% in the year-earlier period.

Total revenue declined 32.0% on an annual basis to 272.6 million baht from 401.1 million baht, and total operating expenses decreased 31.7% year over year to 287.1 million baht from 420.2 million baht.

Reported net income totaled a loss of 19.8 million baht, or a loss of 5 satang per share, compared to a loss of 26.1 million baht, or a loss of 7 satang per share, in the prior-year period.

As of May 16, US$1 was equivalent to 35.39 baht.