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Microbio Q1 loss widens 33.4% YOY

Microbio Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 8 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

The per-share loss increased 33.2% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$34.7 million, compared with a loss of NT$26.0 million in the prior-year period.

The normalized profit margin fell to negative 10.0% from negative 8.4% in the year-earlier period.

Total revenue climbed 11.9% year over year to NT$346.5 million from NT$309.7 million, and total operating expenses grew 7.5% on an annual basis to NT$436.7 million from NT$406.1 million.

Reported net income came to a loss of NT$76.3 million, or a loss of 18 cents per share, compared to a loss of NT$63.5 million, or a loss of 15 cents per share, in the year-earlier period.

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