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Siltronic swings to loss in Q1

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Siltronic swings to loss in Q1

Siltronic AG said its first-quarter normalized net income amounted to a loss of 15 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 48 cents per share.

The per-share result swung to a loss from the prior-year profit of 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €4.6 million, compared with income of €5.2 million in the prior-year period.

The normalized profit margin dropped to negative 2.1% from 2.2% in the year-earlier period.

Total revenue fell 7.6% on an annual basis to €220.6 million from €238.7 million, and total operating expenses decreased from the prior-year period to €218.8 million from €228.3 million.

Reported net income totaled a loss of €10.2 million, or a loss of 34 cents per share, compared to income of €3.2 million, or 13 cents per share, in the year-earlier period.