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Ta Jiang Q1 loss narrows YOY

Ta Jiang Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 4 Taiwan cents per share, compared with a loss of 11 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$3.7 million, compared with a loss of NT$10.3 million in the year-earlier period.

The normalized profit margin fell to negative 35.3% from negative 33.2% in the year-earlier period.

Total revenue decreased 65.6% year over year to NT$10.6 million from NT$30.9 million, and total operating expenses decreased 59.8% year over year to NT$19.4 million from NT$48.2 million.

Reported net income came to NT$5.3 million, or 6 cents per share, compared to a loss of NT$16.9 million, or a loss of 19 cents per share, in the prior-year period.

As of May 12, US$1 was equivalent to NT$32.56.