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Yufo Electronics Q1 loss widens 68.0% YOY

Yufo Electronics Co. Ltd. said its first-quarter normalized net income came to a loss of 14 Taiwan cents per share, compared with a loss of 8 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$11.1 million, compared with a loss of NT$6.6 million in the year-earlier period.

The normalized profit margin increased to negative 8.7% from negative 16.4% in the year-earlier period.

Total revenue increased on an annual basis to NT$128.0 million from NT$40.3 million, and total operating expenses rose from the prior-year period to NT$145.3 million from NT$63.4 million.

Reported net income came to a loss of NT$24.1 million, or a loss of 30 cents per share, compared to a loss of NT$6.4 million, or a loss of 8 cents per share, in the prior-year period.

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