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Roo Hsing Q2 loss narrows YOY

Roo Hsing Co. Ltd said its second-quarter normalized net income was a loss of 8 Taiwan cents per share, compared with a loss of 25 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$11.3 million, compared with a loss of NT$34.2 million in the prior-year period.

The normalized profit margin climbed to negative 1.6% from negative 5.5% in the year-earlier period.

Total revenue grew 14.5% year over year to NT$711.9 million from NT$621.8 million, and total operating expenses rose 10.2% on an annual basis to NT$719.7 million from NT$653.1 million.

Reported net income came to a loss of NT$19.6 million, or a loss of 14 cents per share, compared to a loss of NT$56.1 million, or a loss of 41 cents per share, in the year-earlier period.

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