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Avision Q1 loss widens 80.3% YOY

Avision Inc. said its first-quarter normalized net income came to a loss of 28 Taiwan cents per share, compared with a loss of 15 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$59.1 million, compared with a loss of NT$32.8 million in the prior-year period.

The normalized profit margin fell to negative 12.4% from negative 5.3% in the year-earlier period.

Total revenue decreased 22.9% on an annual basis to NT$478.4 million from NT$620.3 million, and total operating expenses decreased 12.2% on an annual basis to NT$573.1 million from NT$653.0 million.

Reported net income came to a loss of NT$105.1 million, or a loss of 50 cents per share, compared to a loss of NT$55.3 million, or a loss of 26 cents per share, in the prior-year period.

As of May 11, US$1 was equivalent to NT$32.52.