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San Chih Semiconductor swings to loss in Q1

SAN CHIH Semiconductor Inc. Ltd. said its first-quarter normalized net income was a loss of 42 Taiwan cents per share, compared with 48 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$48.3 million, compared with income of NT$55.6 million in the year-earlier period.

The normalized profit margin declined to negative 0.9% from 1.3% in the year-earlier period.

Total revenue climbed 29.0% on an annual basis to NT$5.34 billion from NT$4.14 billion, and total operating expenses grew 9.0% on an annual basis to NT$5.00 billion from NT$4.59 billion.

Reported net income totaled NT$76.9 million, or 66 cents per share, compared to a loss of NT$106.4 million, or a loss of 92 cents per share, in the prior-year period.

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