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Ichia Technologies Q1 loss narrows YOY

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Ichia Technologies Q1 loss narrows YOY

Ichia Technologies Inc. said its first-quarter normalized net income was a loss of 18 Taiwan cents per share, compared with a loss of 18 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$55.5 million, compared with a loss of NT$59.5 million in the prior-year period.

The normalized profit margin declined to negative 3.9% from negative 3.2% in the year-earlier period.

Total revenue fell 28.9% year over year to NT$1.34 billion from NT$1.88 billion, and total operating expenses fell 29.5% year over year to NT$1.40 billion from NT$1.98 billion.

Reported net income came to a loss of NT$54.5 million, or a loss of 18 cents per share, compared to a loss of NT$79.9 million, or a loss of 24 cents per share, in the year-earlier period.

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