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Gamma Optical Q1 loss widens 98.0% YOY

Jia Wei Lifestyle Inc. said its normalized net income for the first quarter was a loss of 33 Taiwan cents per share, compared with a loss of 17 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$15.6 million, compared with a loss of NT$7.9 million in the year-earlier period.

The normalized profit margin fell to negative 13.2% from negative 3.6% in the year-earlier period.

Total revenue fell 46.4% year over year to NT$118.3 million from NT$220.6 million, and total operating expenses fell 38.7% year over year to NT$139.6 million from NT$227.7 million.

Reported net income came to a loss of NT$24.9 million, or a loss of 53 cents per share, compared to a loss of NT$12.6 million, or a loss of 27 cents per share, in the prior-year period.

As of May 9, US$1 was equivalent to NT$32.54.