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Tai Twun Enterprise Q1 loss widens YOY

Tai Twun Enterprise Co. Ltd. said its first-quarter normalized net income amounted to a loss of NT$6.4 million, compared with a loss of NT$84,380 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 5.4% from negative 0.0% in the year-earlier period.

Total revenue declined 46.8% on an annual basis to NT$119.8 million from NT$225.2 million, and total operating expenses fell 43.9% on an annual basis to NT$128.4 million from NT$228.9 million.

Reported net income came to a loss of NT$890,000, or a loss of 1 cents per share, compared to a loss of NT$1.5 million, or a loss of 2 cents per share, in the prior-year period.

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