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Electric Power Technology Q1 loss narrows YOY

Electric Power Technology Ltd. said its first-quarter normalized net income was a loss of 23 Taiwan cents per share, compared with a loss of 30 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$18.1 million, compared with a loss of NT$21.0 million in the prior-year period.

The normalized profit margin was 293.3%.

Total revenue rose year over year to NT$6.2 million from NT$1.2 million, and total operating expenses increased from the prior-year period to NT$160.9 million from NT$32.1 million.

Reported net income came to a loss of NT$75.8 million, or a loss of 96 cents per share, compared to a loss of NT$33.7 million, or a loss of 49 cents per share, in the prior-year period.

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