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Crystalwise Technology Q1 loss widens 24.7% YOY

Crystalwise Technology Inc. said its first-quarter normalized net income amounted to a loss of 54 Taiwan cents per share, compared with a loss of 44 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$113.9 million, compared with a loss of NT$91.3 million in the year-earlier period.

The normalized profit margin dropped to negative 34.6% from negative 15.5% in the year-earlier period.

Total revenue fell 44.2% year over year to NT$329.5 million from NT$590.8 million, and total operating expenses fell 32.6% from the prior-year period to NT$492.7 million from NT$730.7 million.

Reported net income came to a loss of NT$189.1 million, or a loss of 90 cents per share, compared to a loss of NT$159.1 million, or a loss of 76 cents per share, in the year-earlier period.

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