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DIVA Laboratories swings to loss in Q1

DIVA Laboratories Ltd said its first-quarter normalized net income was a loss of 1 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 63 cents per share.

The per-share result swung to a loss from the prior-year profit of 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$607,500, compared with income of NT$18.1 million in the prior-year period.

The normalized profit margin declined to negative 0.2% from 6.0% in the year-earlier period.

Total revenue declined 17.8% on an annual basis to NT$247.1 million from NT$300.8 million, and total operating expenses decreased 14.1% from the prior-year period to NT$230.3 million from NT$267.9 million.

Reported net income totaled a loss of NT$3.5 million, or a loss of 8 cents per share, compared to income of NT$23.9 million, or 50 cents per share, in the prior-year period.

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