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InterServ International Q1 loss widens 16.6% YOY

InterServ International Inc. said its first-quarter normalized net income amounted to a loss of 56 Taiwan cents per share, compared with a loss of 60 cents 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$19.8 million, compared with a loss of NT$17.0 million in the prior-year period.

The normalized profit margin increased to negative 28.5% from negative 31.4% in the year-earlier period.

Total revenue grew 28.5% on an annual basis to NT$69.5 million from NT$54.1 million, and total operating expenses grew 30.6% from the prior-year period to NT$100.5 million from NT$77.0 million.

Reported net income came to a loss of NT$31.6 million, or a loss of 90 cents per share, compared to a loss of NT$26.7 million, or a loss of 94 cents per share, in the year-earlier period.

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