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Chia Her Industrial Q1 loss narrows YOY

Chia Her Industrial Co. Ltd. said its normalized net income for the first quarter was a loss of 32 Taiwan cents per share, compared with a loss of 48 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$37.4 million, compared with a loss of NT$49.4 million in the year-earlier period.

The normalized profit margin increased to negative 5.8% from negative 6.4% in the year-earlier period.

Total revenue decreased 15.6% year over year to NT$649.5 million from NT$770.0 million, and total operating expenses declined 17.9% on an annual basis to NT$709.4 million from NT$863.7 million.

Reported net income came to a loss of NT$61.6 million, or a loss of 52 cents per share, compared to a loss of NT$87.0 million, or a loss of 84 cents per share, in the year-earlier period.

As of May 14, US$1 was equivalent to NT$30.54.