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Action Electronics Q3 loss widens YOY

Action Electronics Co. Ltd. said its third-quarter normalized net income was a loss of 20 Taiwan cents per share, compared with a loss of 20 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$56.1 million, compared with a loss of NT$54.9 million in the prior-year period.

The normalized profit margin dropped to negative 7.6% from negative 4.3% in the year-earlier period.

Total revenue fell 42.2% year over year to NT$740.3 million from NT$1.28 billion, and total operating expenses fell 41.5% on an annual basis to NT$833.6 million from NT$1.42 billion.

Reported net income came to NT$46.4 million, or 17 cents per share, compared to a loss of NT$95.4 million, or a loss of 34 cents per share, in the year-earlier period.

As of Nov. 10, US$1 was equivalent to NT$31.77.