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Myson Century Q1 loss narrows YOY

Myson Century Inc. said its first-quarter normalized net income came to a loss of 22 Taiwan cents per share, compared with a loss of 22 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$13.1 million, compared with a loss of NT$13.3 million in the prior-year period.

The normalized profit margin climbed to negative 24.0% from negative 33.8% in the year-earlier period.

Total revenue climbed 38.0% year over year to NT$54.5 million from NT$39.4 million, and total operating expenses grew 35.6% from the prior-year period to NT$82.2 million from NT$60.6 million.

Reported net income came to a loss of NT$20.6 million, or a loss of 34 cents per share, compared to a loss of NT$18.4 million, or a loss of 31 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to NT$32.68.