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Skymedi Q1 loss narrows YOY

iROC Co. Ltd. said its normalized net income for the first quarter came to a loss of 3 Taiwan cents per share, compared with a loss of NT$3.73 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$623,130, compared with a loss of NT$34.3 million in the prior-year period.

The normalized profit margin climbed to negative 4.3% from negative 34.5% in the year-earlier period.

Total revenue decreased 85.3% on an annual basis to NT$14.6 million from NT$99.2 million, and total operating expenses decreased 91.0% year over year to NT$13.9 million from NT$153.8 million.

Reported net income totaled NT$2.6 million, or 11 cents per share, compared to a loss of NT$54.9 million, or a loss of NT$5.98 per share, in the prior-year period.

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