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Yoko International Q1 loss widens 14.8% YOY

Yoko International Corp. said its normalized net income for the first quarter was a loss of 17 Taiwan cents per share, compared with a loss of 15 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$17.3 million, compared with a loss of NT$15.1 million in the prior-year period.

The normalized profit margin declined to negative 41.3% from negative 19.1% in the year-earlier period.

Total revenue fell 47.1% on an annual basis to NT$41.9 million from NT$79.2 million, and total operating expenses declined 39.4% year over year to NT$75.6 million from NT$124.8 million.

Reported net income came to a loss of NT$32.6 million, or a loss of 32 cents per share, compared to a loss of NT$24.5 million, or a loss of 25 cents per share, in the prior-year period.

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