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Tiga Gaming H2 loss widens YOY

Tiga Gaming Inc. said its normalized net income for the second half was a loss of NT$1.23 per share, compared with a loss of 92 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$26.2 million, compared with a loss of NT$12.8 million in the prior-year period.

Total revenue decreased 96.6% year over year to NT$182,000 from NT$5.4 million, and total operating expenses increased 34.4% on an annual basis to NT$37.4 million from NT$27.9 million.

Reported net income totaled a loss of NT$42.2 million, or a loss of NT$1.98 per share, compared to a loss of NT$20.5 million, or a loss of NT$1.48 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of NT$2.56 per share, compared with a loss of NT$1.75 per share in the prior year.

Normalized net income was a loss of NT$50.4 million, compared with a loss of NT$17.5 million in the prior year.

Full-year total revenue declined 94.0% from the prior-year period to NT$634,000 from NT$10.5 million, and total operating expenses increased 85.8% year over year to NT$75.7 million from NT$40.7 million.

The company said reported net income came to a loss of NT$81.0 million, or a loss of NT$4.11 per share, in the full year, compared with a loss of NT$28.1 million, or a loss of NT$2.81 per share, the prior year.

As of April 8, US$1 was equivalent to NT$32.36.