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HEP Tech Q1 loss widens YOY

HEP Tech Co. Ltd. said its normalized net income for the first quarter came to a loss of 26 Taiwan cents per share, compared with a loss of 9 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$7.9 million, compared with a loss of NT$2.6 million in the prior-year period.

The normalized profit margin dropped to negative 4.7% from negative 1.4% in the year-earlier period.

Total revenue declined 12.4% year over year to NT$168.9 million from NT$192.8 million, and total operating expenses declined 7.1% year over year to NT$183.5 million from NT$197.6 million.

Reported net income came to a loss of NT$12.5 million, or a loss of 41 cents per share, compared to a loss of NT$5.5 million, or a loss of 18 cents per share, in the prior-year period.

As of May 4, US$1 was equivalent to NT$32.37.