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Taiwan Ostor Q1 loss widens 47.7% YOY

Taiwan Ostor Corp. said its normalized net income for the first quarter was a loss of 19 Taiwan cents per share, compared with a loss of 13 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$11.9 million, compared with a loss of NT$8.1 million in the prior-year period.

The normalized profit margin dropped to negative 6.7% from negative 6.6% in the year-earlier period.

Total revenue grew 47.0% on an annual basis to NT$178.8 million from NT$121.6 million, and total operating expenses increased 47.0% from the prior-year period to NT$200.7 million from NT$136.5 million.

Reported net income totaled a loss of NT$19.8 million, or a loss of 31 cents per share, compared to a loss of NT$13.7 million, or a loss of 21 cents per share, in the prior-year period.

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