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AIPTEK International swings to loss in Q3

AIPTEK International Inc. said its normalized net income for the third quarter came to a loss of 2 Taiwan cents per share, compared with 2 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$1.9 million, compared with income of NT$1.5 million in the prior-year period.

The normalized profit margin dropped to negative 67.3% from 7.4% in the year-earlier period.

Total revenue fell 86.2% on an annual basis to NT$2.8 million from NT$20.0 million, and total operating expenses decreased 71.2% from the prior-year period to NT$10.1 million from NT$35.0 million.

Reported net income came to a loss of NT$3.0 million, or a loss of 3 cents per share, compared to a loss of NT$10.3 million, or a loss of 11 cents per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to NT$31.98.