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AVerMedia Technologies Q3 loss narrows YOY

AVerMedia Technologies Inc. said its normalized net income for the third quarter was a loss of 7 Taiwan cents per share, compared with a loss of 17 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$14.1 million, compared with a loss of NT$33.2 million in the year-earlier period.

The normalized profit margin increased to negative 2.5% from negative 5.3% in the year-earlier period.

Total revenue rose 9.9% year over year to NT$683.1 million from NT$621.7 million, and total operating expenses decreased year over year to NT$656.3 million from NT$688.9 million.

Reported net income came to a loss of NT$20.4 million, or a loss of 11 cents per share, compared to a loss of NT$52.2 million, or a loss of 27 cents per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to NT$31.93.