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Strength Master Fitness Tech swings to loss in H1

Strength Master Fitness Tech Co. Ltd. said its normalized net income for the first half came to a loss of 50 Taiwan cents per share, compared with 10 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$21.5 million, compared with income of NT$4.2 million in the prior-year period.

Total revenue fell 13.9% on an annual basis to NT$527.5 million from NT$612.4 million, and total operating expenses fell 8.9% year over year to NT$551.3 million from NT$605.3 million.

Reported net income totaled a loss of NT$35.5 million, or a loss of 82 cents per share, compared to income of NT$4.2 million, or 10 cents per share, in the year-earlier period.

As of Aug. 15, US$1 was equivalent to NT$31.33.