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Sagittarius Life Science swings to profit in Q1

Sagittarius Life Science Corp. said its normalized net income for the first quarter came to 53 Taiwan cents 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 NT$13.7 million, compared with a loss of NT$6.3 million in the prior-year period.

The normalized profit margin climbed to 8.7% from negative 10.4% in the year-earlier period.

Total revenue climbed year over year to NT$157.2 million from NT$59.9 million, and total operating expenses grew 86.1% on an annual basis to NT$133.3 million from NT$71.6 million.

Reported net income came to NT$20.8 million, or 80 cents per share, compared to a loss of NT$10.1 million, or a loss of 39 cents per share, in the year-earlier period.

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