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Acelon Chemicals & Fiber swings to loss in Q1

Acelon Chemicals & Fiber Corp. said its normalized net income for the first quarter came to a loss of NT$280,000, compared with income of NT$13.2 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 0.0% from 1.1% in the year-earlier period.

Total revenue fell 11.0% year over year to NT$1.05 billion from NT$1.18 billion, and total operating expenses declined 10.0% from the prior-year period to NT$1.04 billion from NT$1.16 billion.

Reported net income fell 98.9% year over year to NT$252,000, or 0 cents per share, from NT$22.3 million, or 20 cents per share.

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