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Keysheen Q2 loss narrows YOY

Keysheen (Cayman) Holdings Co. Ltd. said its normalized net income for the second quarter came to a loss of 45 Taiwan cents per share, compared with a loss of NT$1.05 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$47.9 million, compared with a loss of NT$113.4 million in the prior-year period.

The normalized profit margin climbed to negative 11.8% from negative 12.1% in the year-earlier period.

Total revenue decreased 59.9% on an annual basis to NT$374.6 million from NT$933.6 million, and total operating expenses decreased 51.4% from the prior-year period to NT$529.7 million from NT$1.09 billion.

Reported net income totaled a loss of NT$63.8 million, or a loss of 60 cents per share, compared to a loss of NT$131.8 million, or a loss of NT$1.22 per share, in the year-earlier period.

As of Aug. 6, US$1 was equivalent to NT$31.63.