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G&E Herbal Biotechnology swings to loss in Q1

G&E Herbal Biotechnology Co. Ltd. said its first-quarter normalized net income amounted to a loss of 5 Taiwan cents per share, compared with 5 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$3.0 million, compared with income of NT$2.8 million in the prior-year period.

The normalized profit margin fell to negative 55.6% from 11.1% in the year-earlier period.

Total revenue decreased 78.2% on an annual basis to NT$5.5 million from NT$25.1 million, and total operating expenses declined 40.1% on an annual basis to NT$14.6 million from NT$24.4 million.

Reported net income totaled a loss of NT$4.0 million, or a loss of 7 cents per share, compared to income of NT$3.7 million, or 7 cents per share, in the year-earlier period.

As of May 13, US$1 was equivalent to NT$30.62.