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TPK Holding swings to loss in Q1

TPK Holding Co. Ltd. said its first-quarter normalized net income was a loss of 13 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 70 cents per share.

The per-share result swung to a loss from the prior-year profit of 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$43.9 million, compared with income of NT$12.9 million in the year-earlier period.

The normalized profit margin fell to negative 0.2% from 0.0% in the year-earlier period.

Total revenue decreased 26.6% year over year to NT$21.24 billion from NT$28.95 billion, and total operating expenses decreased 25.2% from the prior-year period to NT$21.60 billion from NT$28.87 billion.

Reported net income totaled NT$51.6 million, or 15 cents per share, compared to a loss of NT$1.01 billion, or a loss of NT$3.06 per share, in the prior-year period.

As of May 12, US$1 was equivalent to NT$32.56.