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Arima Communications Q1 loss widens YOY

Arima Communications Corp. said its normalized net income for the first quarter was a loss of 22 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 12 cents per share.

The per-share loss grew year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$90.3 million, compared with a loss of NT$42.1 million in the year-earlier period.

The normalized profit margin declined to negative 2.4% from negative 0.9% in the year-earlier period.

Total revenue declined 21.7% on an annual basis to NT$3.80 billion from NT$4.85 billion, and total operating expenses decreased 18.9% from the prior-year period to NT$3.91 billion from NT$4.82 billion.

Reported net income came to a loss of NT$144.5 million, or a loss of 35 cents per share, compared to a loss of NT$67.2 million, or a loss of 16 cents per share, in the prior-year period.

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