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Arima Optoelectronics Q1 loss narrows YOY

Arima Optoelectronics Corp. said its first-quarter normalized net income was a loss of 4 Taiwan cents per share, compared with a loss of 17 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$11.5 million, compared with a loss of NT$47.0 million in the year-earlier period.

The normalized profit margin increased to negative 34.8% from negative 193.2% in the year-earlier period.

Total revenue climbed 35.8% on an annual basis to NT$33.0 million from NT$24.3 million, and total operating expenses decreased 47.3% year over year to NT$61.0 million from NT$115.9 million.

Reported net income totaled a loss of NT$18.4 million, or a loss of 7 cents per share, compared to a loss of NT$46.5 million, or a loss of 17 cents per share, in the prior-year period.

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