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Ji-Haw Industrial Q1 loss widens 50.1% YOY

Ji-Haw Industrial Co.Ltd. said its normalized net income for the first quarter amounted to a loss of 13 Taiwan cents per share, compared with a loss of 9 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$15.0 million, compared with a loss of NT$10.0 million in the year-earlier period.

The normalized profit margin fell to negative 2.9% from negative 2.0% in the year-earlier period.

Total revenue climbed on an annual basis to NT$509.4 million from NT$491.0 million, and total operating expenses grew year over year to NT$539.5 million from NT$517.4 million.

Reported net income totaled a loss of NT$32.1 million, or a loss of 28 cents per share, compared to a loss of NT$17.4 million, or a loss of 15 cents per share, in the year-earlier period.

As of April 28, US$1 was equivalent to NT$32.27.