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AVerMedia Technologies Q2 loss narrows YOY

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AVerMedia Technologies Q2 loss narrows YOY

AVerMedia Technologies Inc. said its second-quarter normalized net income came to a loss of 7 Taiwan cents per share, compared with a loss of 23 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$13.8 million, compared with a loss of NT$45.3 million in the prior-year period.

The normalized profit margin rose to negative 2.1% from negative 8.3% in the year-earlier period.

Total revenue grew 20.8% on an annual basis to NT$662.1 million from NT$548.2 million, and total operating expenses grew from the prior-year period to NT$657.1 million from NT$629.7 million.

Reported net income totaled a loss of NT$23.1 million, or a loss of 12 cents per share, compared to a loss of NT$68.8 million, or a loss of 35 cents per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to NT$31.39.