Tri Ocean Textile Co. Ltd. said its normalized net income for the first quarter came to a loss of 46 Taiwan cents per share, compared with a loss of 27 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$18.0 million, compared with a loss of NT$10.6 million in the year-earlier period.
The normalized profit margin dropped to negative 9.7% from negative 4.9% in the year-earlier period.
Total revenue decreased 14.3% year over year to NT$186.3 million from NT$217.5 million, and total operating expenses declined 9.9% on an annual basis to NT$213.0 million from NT$236.4 million.
Reported net income came to a loss of NT$29.3 million, or a loss of 74 cents per share, compared to a loss of NT$17.8 million, or a loss of 46 cents per share, in the year-earlier period.
As of May 14, US$1 was equivalent to NT$30.54.
