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Insyde Software swings to loss in Q1

Insyde Software Corp. said its normalized net income for the first quarter came to a loss of 31 Taiwan cents per share, compared with 9 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$11.7 million, compared with income of NT$3.4 million in the year-earlier period.

The normalized profit margin declined to negative 6.8% from 1.7% in the year-earlier period.

Total revenue fell 15.0% year over year to NT$173.1 million from NT$203.6 million, and total operating expenses came to NT$197.1 million, compared with NT$197.7 million in the prior-year period.

Reported net income came to a loss of NT$16.8 million, or a loss of 44 cents per share, compared to income of NT$3.8 million, or 10 cents per share, in the year-earlier period.

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