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Star Comgistic Capital Q1 loss narrows YOY

Star Comgistic Capital Co. Ltd. said its normalized net income for the first quarter was a loss of 9 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

The per-share loss decreased 54.3% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$12.4 million, compared with a loss of NT$26.9 million in the year-earlier period.

The normalized profit margin climbed to negative 0.4% from negative 0.9% in the year-earlier period.

Total revenue rose 8.5% on an annual basis to NT$3.29 billion from NT$3.04 billion, and total operating expenses rose 10.3% year over year to NT$3.34 billion from NT$3.03 billion.

Reported net income totaled NT$241,000, or 0 cents per share, compared to a loss of NT$13.4 million, or a loss of 10 cents per share, in the prior-year period.

As of May 15, US$1 was equivalent to NT$30.44.