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Candmark Electroptics Q1 loss widens 56.9% YOY

Candmark Electroptics Co. Ltd. said its normalized net income for the first quarter came to a loss of NT$3.43 per share, compared with a loss of NT$2.18 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$42.0 million, compared with a loss of NT$26.8 million in the year-earlier period.

The normalized profit margin dropped to negative 49.2% from negative 14.7% in the year-earlier period.

Total revenue declined 53.3% year over year to NT$85.3 million from NT$182.7 million, and total operating expenses declined 35.6% from the prior-year period to NT$141.1 million from NT$219.0 million.

Reported net income totaled a loss of NT$199.5 million, or a loss of NT$16.27 per share, compared to a loss of NT$40.3 million, or a loss of NT$3.31 per share, in the year-earlier period.

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