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Info-Tek Q1 loss narrows YOY

Info-Tek Corp. said its first-quarter normalized net income amounted to a loss of 7 Taiwan cents per share, compared with a loss of 17 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$8.0 million, compared with a loss of NT$19.0 million in the year-earlier period.

The normalized profit margin climbed to negative 1.2% from negative 3.3% in the year-earlier period.

Total revenue climbed 11.8% on an annual basis to NT$651.6 million from NT$582.8 million, and total operating expenses rose 7.9% from the prior-year period to NT$660.4 million from NT$612.1 million.

Reported net income totaled a loss of NT$8.0 million, or a loss of 7 cents per share, compared to a loss of NT$25.1 million, or a loss of 22 cents per share, in the year-earlier period.

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