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Chia Her Industrial Q2 loss narrows YOY

Chia Her Industrial Co. Ltd. said its normalized net income for the second quarter amounted to a loss of 37 Taiwan cents per share, compared with a loss of 72 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$44.3 million, compared with a loss of NT$84.6 million in the year-earlier period.

The normalized profit margin increased to negative 5.8% from negative 10.6% in the year-earlier period.

Total revenue decreased on an annual basis to NT$766.7 million from NT$801.6 million, and total operating expenses fell 13.0% from the prior-year period to NT$817.7 million from NT$940.3 million.

Reported net income totaled a loss of NT$63.0 million, or a loss of 53 cents per share, compared to a loss of NT$126.8 million, or a loss of NT$1.07 per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to NT$31.39.