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AVerMedia Technologies Q1 loss narrows YOY

AVerMedia Technologies Inc. said its first-quarter normalized net income amounted to a loss of 16 Taiwan cents per share, compared with a loss of 23 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$30.2 million, compared with a loss of NT$45.8 million in the year-earlier period.

The normalized profit margin increased to negative 5.6% from negative 9.0% in the year-earlier period.

Total revenue grew 6.8% on an annual basis to NT$543.1 million from NT$508.7 million, and total operating expenses declined on an annual basis to NT$594.9 million from NT$606.7 million.

Reported net income totaled a loss of NT$48.2 million, or a loss of 25 cents per share, compared to a loss of NT$82.6 million, or a loss of 42 cents per share, in the prior-year period.

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