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Hyweb Technology Q1 loss widens 14.1% YOY

Hyweb Technology Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 30 Taiwan cents per share, compared with a loss of 26 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$10.3 million, compared with a loss of NT$9.0 million in the year-earlier period.

The normalized profit margin fell to negative 8.3% from negative 8.1% in the year-earlier period.

Total revenue rose 11.5% year over year to NT$124.2 million from NT$111.4 million, and total operating expenses increased 8.7% on an annual basis to NT$137.6 million from NT$126.6 million.

Reported net income totaled a loss of NT$17.7 million, or a loss of 51 cents per share, compared to a loss of NT$13.9 million, or a loss of 40 cents per share, in the year-earlier period.

As of May 11, US$1 was equivalent to NT$32.52.