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Winstek Semiconductor swings to loss in Q1

Winstek Semiconductor Co. Ltd. said its first-quarter normalized net income was a loss of 43 Taiwan cents per share, compared with 53 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$58.0 million, compared with income of NT$72.4 million in the prior-year period.

The normalized profit margin dropped to negative 8.5% from 7.7% in the year-earlier period.

Total revenue fell 27.7% year over year to NT$684.0 million from NT$945.5 million, and total operating expenses decreased 12.5% from the prior-year period to NT$723.6 million from NT$826.6 million.

Reported net income totaled a loss of NT$91.4 million, or a loss of 67 cents per share, compared to income of NT$85.1 million, or 62 cents per share, in the prior-year period.

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