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Lin Horn Technology Q1 loss widens YOY

Lin Horn Technology Co. Ltd. said its first-quarter normalized net income came to a loss of NT$28.9 million, compared with a loss of NT$73,130 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 9.9% from negative 0.0% in the year-earlier period.

Total revenue decreased 27.9% on an annual basis to NT$291.2 million from NT$404.0 million, and total operating expenses declined 25.9% on an annual basis to NT$287.3 million from NT$387.7 million.

Reported net income totaled a loss of NT$33.4 million, or a loss of 47 cents per share, compared to income of NT$710,720, or 1 cents per share, in the prior-year period.

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