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WUS Printed Circuit swings to loss in Q1

WUS Printed Circuit Co. Ltd. said its first-quarter normalized net income was a loss of 15 Taiwan cents per share, compared with 7 cents 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$36.6 million, compared with income of NT$19.5 million in the prior-year period.

The normalized profit margin dropped to negative 3.3% from 1.1% in the year-earlier period.

Total revenue declined 36.4% year over year to NT$1.11 billion from NT$1.75 billion, and total operating expenses declined 33.0% from the prior-year period to NT$1.13 billion from NT$1.68 billion.

Reported net income totaled a loss of NT$41.1 million, or a loss of 17 cents per share, compared to income of NT$342.6 million, or NT$1.27 per share, in the prior-year period.

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