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Chunghwa Picture Tubes Q1 loss widens YOY

Chunghwa Picture Tubes Ltd. said its normalized net income for the first quarter came to a loss of 27 Taiwan cents per share, compared with a loss of 8 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$1.73 billion, compared with a loss of NT$556.2 million in the year-earlier period.

The normalized profit margin fell to negative 23.5% from negative 4.2% in the year-earlier period.

Total revenue fell 28.5% on an annual basis to NT$9.47 billion from NT$13.23 billion, and total operating expenses decreased 24.1% year over year to NT$11.09 billion from NT$14.61 billion.

Reported net income totaled a loss of NT$2.85 billion, or a loss of 44 cents per share, compared to a loss of NT$1.13 billion, or a loss of 17 cents per share, in the year-earlier period.

As of May 13, US$1 was equivalent to NT$32.68.