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Advanced International Multitech Q2 loss narrows YOY

Advanced International Multitech Co. Ltd. said its normalized net income for the second quarter was a loss of 15 Taiwan cents per share, compared with a loss of 76 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$20.5 million, compared with a loss of NT$102.0 million in the prior-year period.

The normalized profit margin rose to negative 1.1% from negative 6.2% in the year-earlier period.

Total revenue increased 15.3% year over year to NT$1.88 billion from NT$1.63 billion, and total operating expenses increased 8.5% on an annual basis to NT$1.92 billion from NT$1.77 billion.

Reported net income totaled a loss of NT$18.7 million, or a loss of 14 cents per share, compared to a loss of NT$186.7 million, or a loss of NT$1.39 per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to NT$31.04.