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Lung Hwa Electronics Q2 loss narrows YOY

Lung Hwa Electronics Co. Ltd. said its normalized net income for the second quarter was a loss of 17 Taiwan cents per share, compared with a loss of 25 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$5.0 million, compared with a loss of NT$7.5 million in the prior-year period.

Total revenue climbed 65.5% on an annual basis to NT$700,000 from NT$423,000, and total operating expenses rose 23.4% on an annual basis to NT$8.9 million from NT$7.2 million.

Reported net income totaled a loss of NT$8.1 million, or a loss of 27 cents per share, compared to a loss of NT$12.0 million, or a loss of 40 cents per share, in the year-earlier period.

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