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Taiwan Oasis Technology Q1 loss narrows YOY

Taiwan Oasis Technology Co. Ltd. said its first-quarter normalized net income was a loss of 14 Taiwan cents per share, compared with a loss of 20 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$11.7 million, compared with a loss of NT$16.8 million in the prior-year period.

The normalized profit margin increased to negative 10.2% from negative 12.9% in the year-earlier period.

Total revenue decreased 12.4% on an annual basis to NT$114.6 million from NT$130.9 million, and total operating expenses declined 24.8% from the prior-year period to NT$136.4 million from NT$181.3 million.

Reported net income came to a loss of NT$20.0 million, or a loss of 24 cents per share, compared to a loss of NT$35.5 million, or a loss of 43 cents per share, in the prior-year period.

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