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Kang Na Hsiung Enterprise swings to loss in Q1

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Kang Na Hsiung Enterprise swings to loss in Q1

Kang Na Hsiung Enterprise Co. Ltd. said its first-quarter normalized net income came to a loss of NT$1.2 million, compared with income of NT$6.4 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.1% from 0.6% in the year-earlier period.

Total revenue rose on an annual basis to NT$1.07 billion from NT$1.05 billion, and total operating expenses rose from the prior-year period to NT$1.08 billion from NT$1.06 billion.

Reported net income totaled a loss of NT$5.9 million, or a loss of 3 cents per share, compared to income of NT$5.9 million, or 3 cents per share, in the year-earlier period.

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