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Golden Long Teng Development Q1 loss widens 6.1% YOY

Golden Long Teng Development Co. Ltd. said its normalized net income for the first quarter came to a loss of 10 Taiwan cents per share, compared with a loss of 13 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$6.2 million, compared with a loss of NT$5.9 million in the prior-year period.

Total revenue decreased 28.0% year over year to NT$33.8 million from NT$47.0 million, and total operating expenses declined 24.5% year over year to NT$41.2 million from NT$54.6 million.

Reported net income totaled a loss of NT$8.1 million, or a loss of 13 cents per share, compared to a loss of NT$9.3 million, or a loss of 20 cents per share, in the year-earlier period.

As of May 12, US$1 was equivalent to NT$32.56.