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Kuangli Photoelectric Technology Q1 loss widens 30.8% YOY

Kuangli Photoelectric Technology Co. Ltd. said its normalized net income for the first quarter came to a loss of 56 Taiwan cents per share, compared with a loss of 42 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$25.3 million, compared with a loss of NT$19.4 million in the prior-year period.

The normalized profit margin declined to negative 41.1% from negative 19.0% in the year-earlier period.

Total revenue fell 39.4% on an annual basis to NT$61.7 million from NT$101.8 million, and total operating expenses decreased 25.3% from the prior-year period to NT$102.3 million from NT$136.9 million.

Reported net income totaled a loss of NT$35.6 million, or a loss of 78 cents per share, compared to a loss of NT$31.0 million, or a loss of 68 cents per share, in the prior-year period.

As of May 12, US$1 was equivalent to NT$32.56.