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Lilontex Q1 loss widens YOY

Lilontex Corp. said its normalized net income for the first quarter was a loss of 6 Taiwan cents per share, compared with a loss of 2 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$7.2 million, compared with a loss of NT$3.0 million in the prior-year period.

The normalized profit margin declined to negative 9.5% from negative 2.7% in the year-earlier period.

Total revenue declined 30.2% year over year to NT$75.8 million from NT$108.5 million, and total operating expenses declined 25.2% on an annual basis to NT$86.4 million from NT$115.5 million.

Reported net income totaled a loss of NT$10.3 million, or a loss of 8 cents per share, compared to a loss of NT$4.1 million, or a loss of 3 cents per share, in the year-earlier period.

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