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Johnson Health Tech swings to loss in Q1

Johnson Health Tech Co. Ltd. said its first-quarter normalized net income amounted to a loss of 10 Taiwan cents per share, compared with 71 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$31.8 million, compared with income of NT$215.0 million in the prior-year period.

The normalized profit margin dropped to negative 0.9% from 5.9% in the year-earlier period.

Total revenue declined 6.5% on an annual basis to NT$3.42 billion from NT$3.66 billion, and total operating expenses fell on an annual basis to NT$3.39 billion from NT$3.44 billion.

Reported net income totaled a loss of NT$57.5 million, or a loss of 19 cents per share, compared to income of NT$284.1 million, or 93 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to NT$30.62.