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Cameo Communications Q1 loss widens 18.8% YOY

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Cameo Communications Q1 loss widens 18.8% YOY

Cameo Communications Inc. said its normalized net income for the first quarter came to a loss of 19 Taiwan cents per share, compared with a loss of 16 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$51.6 million, compared with a loss of NT$43.4 million in the prior-year period.

The normalized profit margin declined to negative 5.9% from negative 4.1% in the year-earlier period.

Total revenue declined 16.9% on an annual basis to NT$875.3 million from NT$1.05 billion, and total operating expenses declined 17.5% on an annual basis to NT$948.6 million from NT$1.15 billion.

Reported net income totaled NT$245.6 million, or 91 cents per share, compared to a loss of NT$77.8 million, or a loss of 29 cents per share, in the year-earlier period.

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