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Forcecon Technology Q1 loss narrows YOY

Forcecon Technology Co. Ltd. said its normalized net income for the first quarter was a loss of 5 Taiwan cents per share, compared with a loss of 14 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$2.6 million, compared with a loss of NT$7.8 million in the prior-year period.

The normalized profit margin increased to negative 0.3% from negative 1.2% in the year-earlier period.

Total revenue rose 16.9% on an annual basis to NT$749.4 million from NT$641.2 million, and total operating expenses increased 11.8% from the prior-year period to NT$741.9 million from NT$663.8 million.

Reported net income totaled a loss of NT$9.0 million, or a loss of 18 cents per share, compared to a loss of NT$11.3 million, or a loss of 21 cents per share, in the prior-year period.

As of May 6, US$1 was equivalent to NT$32.39.