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IC Plus Q1 loss narrows YOY

IC Plus Corp. said its first-quarter normalized net income came to a loss of 5 Taiwan cents per share, compared with a loss of 14 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$4.3 million, compared with a loss of NT$12.0 million in the prior-year period.

The normalized profit margin climbed to negative 2.0% from negative 6.7% in the year-earlier period.

Total revenue increased 22.2% year over year to NT$217.7 million from NT$178.1 million, and total operating expenses grew 13.8% from the prior-year period to NT$224.5 million from NT$197.3 million.

Reported net income totaled a loss of NT$3.4 million, or a loss of 4 cents per share, compared to a loss of NT$19.2 million, or a loss of 23 cents per share, in the prior-year period.

As of May 16, US$1 was equivalent to NT$32.63.