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Action Electronics Q2 loss widens YOY

Action Electronics Co. Ltd. said its second-quarter normalized net income amounted to a loss of 16 Taiwan cents per share, compared with a loss of 6 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$43.8 million, compared with a loss of NT$16.9 million in the prior-year period.

The normalized profit margin declined to negative 4.5% from negative 1.1% in the year-earlier period.

Total revenue decreased 37.8% year over year to NT$981.8 million from NT$1.58 billion, and total operating expenses fell 36.4% from the prior-year period to NT$1.05 billion from NT$1.65 billion.

Reported net income totaled a loss of NT$64.5 million, or a loss of 23 cents per share, compared to a loss of NT$40.0 million, or a loss of 14 cents per share, in the year-earlier period.

As of Aug. 15, US$1 was equivalent to NT$31.33.