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Syntek Semiconductor Q1 loss narrows YOY

Syntek Semiconductor Co. Ltd. said its first-quarter normalized net income amounted to a loss of 3 Taiwan cents per share, compared with a loss of 4 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$4.8 million, compared with a loss of NT$7.1 million in the prior-year period.

The normalized profit margin climbed to negative 12.0% from negative 18.5% in the year-earlier period.

Total revenue increased on an annual basis to NT$40.2 million from NT$38.7 million, and total operating expenses fell 8.8% year over year to NT$57.6 million from NT$63.2 million.

Reported net income came to a loss of NT$9.0 million, or a loss of 6 cents per share, compared to a loss of NT$14.1 million, or a loss of 9 cents per share, in the prior-year period.

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