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Feei Cherng Enterprise Q1 loss widens 96.1% YOY

Feei Cherng Enterprise Co. Ltd. said its first-quarter normalized net income amounted to a loss of 25 Taiwan cents per share, compared with a loss of 13 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$21.2 million, compared with a loss of NT$10.8 million in the year-earlier period.

The normalized profit margin fell to negative 5.6% from negative 2.5% in the year-earlier period.

Total revenue decreased 14.4% year over year to NT$376.9 million from NT$440.3 million, and total operating expenses decreased 11.6% from the prior-year period to NT$403.5 million from NT$456.4 million.

Reported net income totaled a loss of NT$32.4 million, or a loss of 39 cents per share, compared to income of NT$2.1 million, or 2 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to NT$32.68.