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Ability Opto-Electronics Q1 loss narrows YOY

Ability Opto-Electronics Technology Co.Ltd. said its first-quarter normalized net income amounted to a loss of 2 Taiwan cents per share, compared with a loss of 21 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$2.0 million, compared with a loss of NT$19.9 million in the year-earlier period.

The normalized profit margin climbed to negative 0.8% from negative 6.3% in the year-earlier period.

Total revenue fell 17.6% year over year to NT$261.7 million from NT$317.5 million, and total operating expenses fell 27.9% year over year to NT$248.0 million from NT$343.7 million.

Reported net income totaled a loss of NT$3.3 million, or a loss of 4 cents per share, compared to a loss of NT$33.8 million, or a loss of 36 cents per share, in the year-earlier period.

As of May 13, US$1 was equivalent to NT$32.68.