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EST Global Apparel Q1 loss narrows YOY

EST Global Apparel Co. Ltd. said its first-quarter normalized net income amounted to a loss of 7 Taiwan cents per share, compared with a loss of 8 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$1.3 million, compared with a loss of NT$1.5 million in the prior-year period.

The normalized profit margin increased to negative 3.2% from negative 8.5% in the year-earlier period.

Total revenue increased year over year to NT$40.4 million from NT$17.2 million, and total operating expenses climbed year over year to NT$43.1 million from NT$20.3 million.

Reported net income totaled a loss of NT$2.2 million, or a loss of 11 cents per share, compared to a loss of NT$2.3 million, or a loss of 12 cents per share, in the prior-year period.

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