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Utechzone Q1 loss widens YOY

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Utechzone Q1 loss widens YOY

Utechzone Co. Ltd. said its first-quarter normalized net income amounted to a loss of 41 Taiwan cents per share, compared with a loss of 18 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$25.3 million, compared with a loss of NT$11.2 million in the prior-year period.

The normalized profit margin declined to negative 10.6% from negative 5.8% in the year-earlier period.

Total revenue grew 25.1% year over year to NT$239.7 million from NT$191.7 million, and total operating expenses grew 23.7% from the prior-year period to NT$248.1 million from NT$200.5 million.

Reported net income totaled a loss of NT$31.5 million, or a loss of 51 cents per share, compared to a loss of NT$11.1 million, or a loss of 18 cents per share, in the prior-year period.

As of May 16, US$1 was equivalent to NT$32.63.