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Phonic Corp. Q3 loss narrows YOY

Phonic Corp. said its normalized net income for the third quarter came to a loss of 4 Taiwan cents per share, compared with a loss of 23 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$1.1 million, compared with a loss of NT$6.7 million in the prior-year period.

The normalized profit margin rose to negative 1.5% from negative 8.9% in the year-earlier period.

Total revenue came to NT$75.7 million, compared with NT$75.5 million in the prior-year period, and total operating expenses declined 5.9% from the prior-year period to NT$80.3 million from NT$85.3 million.

Reported net income totaled a loss of NT$2.2 million, or a loss of 8 cents per share, compared to a loss of NT$11.4 million, or a loss of 39 cents per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to NT$31.98.