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Astro Q1 loss widens YOY

Astro Corp. said its normalized net income for the first quarter came to a loss of NT$1.07 per share, compared with a loss of 24 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$76.9 million, compared with a loss of NT$17.2 million in the year-earlier period.

The normalized profit margin declined to negative 294.2% from negative 22.7% in the year-earlier period.

Total revenue decreased 65.4% year over year to NT$26.1 million from NT$75.6 million, and total operating expenses declined 17.9% year over year to NT$93.0 million from NT$113.4 million.

Reported net income totaled a loss of NT$122.3 million, or a loss of NT$1.70 per share, compared to a loss of NT$33.6 million, or a loss of 47 cents per share, in the prior-year period.

As of May 15, US$1 was equivalent to NT$30.44.