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Ta Jiang Q1 loss widens YOY

Ta Jiang Co. Ltd. said its normalized net income for the first quarter was a loss of 11 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$10.3 million, compared with a loss of NT$3.5 million in the year-earlier period.

The normalized profit margin dropped to negative 33.2% from negative 5.8% in the year-earlier period.

Total revenue fell 48.5% year over year to NT$30.9 million from NT$60.1 million, and total operating expenses fell 27.6% year over year to NT$48.2 million from NT$66.6 million.

Reported net income totaled a loss of NT$16.9 million, or a loss of 19 cents per share, compared to a loss of NT$4.0 million, or a loss of 5 cents per share, in the year-earlier period.

As of May 14, US$1 was equivalent to NT$30.54.