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CGS International Q1 loss narrows YOY

CGS International Inc. said its first-quarter normalized net income was a loss of NT$296,880, compared with a loss of NT$3.0 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 0.4% from negative 4.6% in the year-earlier period.

Total revenue climbed 21.0% on an annual basis to NT$80.6 million from NT$66.6 million, and total operating expenses grew 14.1% from the prior-year period to NT$79.3 million from NT$69.5 million.

Reported net income totaled a loss of NT$5.9 million, or a loss of 12 cents per share, compared to a loss of NT$4.9 million, or a loss of 10 cents per share, in the year-earlier period.

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