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North-Star International Q1 loss narrows YOY

North-Star International Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 1 Taiwan cents per share, compared with a loss of 5 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$1.8 million, compared with a loss of NT$5.8 million in the year-earlier period.

The normalized profit margin increased to negative 0.2% from negative 0.6% in the year-earlier period.

Total revenue fell 26.3% year over year to NT$724.4 million from NT$983.2 million, and total operating expenses decreased 26.6% year over year to NT$729.1 million from NT$993.2 million.

Reported net income came to a loss of NT$2.7 million, or a loss of 2 cents per share, compared to a loss of NT$9.3 million, or a loss of 8 cents per share, in the year-earlier period.

As of May 15, US$1 was equivalent to NT$30.44.