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Solid State System Q1 loss widens 9.7% YOY

Solid State System Co. Ltd. said its normalized net income for the first quarter came to a loss of 16 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$13.3 million, compared with a loss of NT$12.2 million in the year-earlier period.

The normalized profit margin increased to negative 8.1% from negative 8.5% in the year-earlier period.

Total revenue rose 14.6% year over year to NT$163.7 million from NT$142.8 million, and total operating expenses grew 13.7% year over year to NT$185.6 million from NT$163.2 million.

Reported net income came to a loss of NT$21.3 million, or a loss of 26 cents per share, compared to a loss of NT$19.4 million, or a loss of 27 cents per share, in the year-earlier period.

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