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Array Networks Q1 loss narrows YOY

Array Networks Inc. said its first-quarter normalized net income amounted to a loss of 54 Taiwan cents per share, compared with a loss of 97 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$29.3 million, compared with a loss of NT$52.9 million in the prior-year period.

The normalized profit margin rose to negative 1.8% from negative 36.6% in the year-earlier period.

Total revenue rose 42.9% on an annual basis to NT$206.5 million from NT$144.5 million, and total operating expenses climbed 11.9% from the prior-year period to NT$257.8 million from NT$230.3 million.

Reported net income came to a loss of NT$49.0 million, or a loss of 89 cents per share, compared to a loss of NT$85.3 million, or a loss of NT$1.56 per share, in the prior-year period.

As of May 16, US$1 was equivalent to NT$32.63.