Chuwa Wool Industry Co. (Taiwan) Ltd. said its normalized net income for the first quarter came to a loss of NT$330,000, compared with a loss of NT$1.3 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to negative 0.3% from negative 1.8% in the year-earlier period.
Total revenue climbed 28.4% year over year to NT$95.5 million from NT$74.4 million, and total operating expenses rose 24.5% year over year to NT$99.0 million from NT$79.5 million.
Reported net income totaled NT$197,000, or 0 cents per share, compared to a loss of NT$2.7 million, or a loss of 3 cents per share, in the prior-year period.
As of May 14, US$1 was equivalent to NT$30.54.
