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Yao Sheng Electronic Q1 loss narrows YOY

Yao Sheng Electronic Co. Ltd. said its normalized net income for the first quarter came to a loss of 1 Taiwan cents per share, compared with a loss of 45 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$562,630, compared with a loss of NT$17.4 million in the year-earlier period.

The normalized profit margin climbed to negative 0.2% from negative 8.0% in the year-earlier period.

Total revenue climbed 12.7% year over year to NT$244.1 million from NT$216.5 million, and total operating expenses totaled NT$250.4 million, compared with NT$249.1 million in the year-earlier period.

Reported net income came to NT$765,180, or 2 cents per share, compared to a loss of NT$27.9 million, or a loss of 73 cents per share, in the year-earlier period.

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