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Electric Power Technology Q1 loss widens YOY

Electric Power Technology Ltd. said its normalized net income for the first quarter was a loss of 30 Taiwan cents per share, compared with a loss of 7 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$21.0 million, compared with a loss of NT$4.6 million in the year-earlier period.

Total revenue fell 90.9% on an annual basis to NT$1.2 million from NT$12.7 million, and total operating expenses rose 75.6% on an annual basis to NT$32.1 million from NT$18.3 million.

Reported net income totaled a loss of NT$33.7 million, or a loss of 49 cents per share, compared to a loss of NT$7.4 million, or a loss of 11 cents per share, in the year-earlier period.

As of May 14, US$1 was equivalent to NT$30.54.