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Alchip Technologies swings to loss in Q2

Alchip Technologies Ltd. said its second-quarter normalized net income came to a loss of NT$1.95 per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

The per-share result swung to a loss from the prior-year profit of 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$120.3 million, compared with income of NT$25.9 million in the year-earlier period.

The normalized profit margin fell to negative 14.8% from 3.0% in the year-earlier period.

Total revenue declined 6.9% year over year to NT$814.2 million from NT$874.5 million, and total operating expenses grew 19.6% year over year to NT$1.01 billion from NT$844.6 million.

Reported net income totaled a loss of NT$242.6 million, or a loss of NT$3.94 per share, compared to income of NT$15.7 million, or 25 cents per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to NT$31.39.