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Sentronic International swings to loss in Q1

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Sentronic International swings to loss in Q1

Sentronic International Corp. said its first-quarter normalized net income was a loss of 10 Taiwan cents per share, compared with 25 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$3.2 million, compared with income of NT$7.8 million in the prior-year period.

The normalized profit margin fell to negative 2.6% from 4.3% in the year-earlier period.

Total revenue declined 31.0% year over year to NT$125.0 million from NT$181.3 million, and total operating expenses declined 20.4% on an annual basis to NT$133.3 million from NT$167.5 million.

Reported net income totaled a loss of NT$6.6 million, or a loss of 21 cents per share, compared to income of NT$8.9 million, or 28 cents per share, in the year-earlier period.

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