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Airmate International Q3 loss widens YOY

Airmate (Cayman) International Co Ltd. said its third-quarter normalized net income amounted to a loss of 95 Taiwan cents per share, compared with a loss of 14 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$116.3 million, compared with a loss of NT$17.7 million in the prior-year period.

The normalized profit margin dropped to negative 5.9% from negative 0.7% in the year-earlier period.

Total revenue declined 17.6% year over year to NT$1.97 billion from NT$2.39 billion, and total operating expenses decreased 14.8% year over year to NT$2.16 billion from NT$2.53 billion.

Reported net income came to a loss of NT$139.9 million, or a loss of NT$1.14 per share, compared to a loss of NT$33.3 million, or a loss of 27 cents per share, in the year-earlier period.

As of Nov. 9, US$1 was equivalent to NT$32.83.