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FocalTech Systems Q1 loss narrows YOY

FocalTech Systems Co. Ltd. said its normalized net income for the first quarter was a loss of 22 Taiwan cents per share, compared with a loss of 29 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$63.9 million, compared with a loss of NT$91.7 million in the year-earlier period.

The normalized profit margin rose to negative 2.8% from negative 3.8% in the year-earlier period.

Total revenue fell 5.0% on an annual basis to NT$2.31 billion from NT$2.43 billion, and total operating expenses fell 6.8% year over year to NT$2.40 billion from NT$2.57 billion.

Reported net income came to a loss of NT$96.5 million, or a loss of 33 cents per share, compared to a loss of NT$148.7 million, or a loss of 48 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to NT$32.68.