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Tidehold Development Q2 loss narrows YOY

Tidehold Development Co. Ltd. said its normalized net income for the second quarter came to a loss of NT$339,670, compared with a loss of NT$885,450 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 2.0% from negative 3.1% in the year-earlier period.

Total revenue fell 41.1% on an annual basis to NT$16.9 million from NT$28.7 million, and total operating expenses declined 37.4% year over year to NT$20.4 million from NT$32.5 million.

Reported net income increased on an annual basis to NT$4.9 million, or 5 cents per share, from NT$2.0 million, or 2 cents per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.