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Tah Tong Textile Q1 loss widens YOY

Tah Tong Textile Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 34 Taiwan cents per share, compared with a loss of 14 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$21.0 million, compared with a loss of NT$8.6 million in the prior-year period.

The normalized profit margin fell to negative 4.4% from negative 2.6% in the year-earlier period.

Total revenue climbed 47.8% year over year to NT$490.3 million from NT$331.8 million, and total operating expenses increased 42.4% year over year to NT$507.0 million from NT$356.1 million.

Reported net income came to a loss of NT$33.0 million, or a loss of 53 cents per share, compared to a loss of NT$15.9 million, or a loss of 26 cents per share, in the prior-year period.

As of May 14, US$1 was equivalent to NT$30.54.