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Advanced Microelectronic Products Q1 loss widens 30.6% YOY

Advanced Microelectronic Products Inc. said its first-quarter normalized net income was a loss of 30 Taiwan cents per share, compared with a loss of 23 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$54.2 million, compared with a loss of NT$41.5 million in the year-earlier period.

The normalized profit margin climbed to negative 19.4% from negative 27.1% in the year-earlier period.

Total revenue rose 82.4% on an annual basis to NT$278.9 million from NT$152.8 million, and total operating expenses grew 58.8% on an annual basis to NT$350.6 million from NT$220.7 million.

Reported net income totaled a loss of NT$86.7 million, or a loss of 47 cents per share, compared to a loss of NT$66.3 million, or a loss of 36 cents per share, in the prior-year period.

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