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AIPTEK International Q2 loss narrows YOY

AIPTEK International Inc. said its normalized net income for the second quarter amounted to a loss of 7 Taiwan cents per share, compared with a loss of 10 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$6.6 million, compared with a loss of NT$8.4 million in the prior-year period.

The normalized profit margin declined to negative 119.2% from negative 39.5% in the year-earlier period.

Total revenue declined 73.9% year over year to NT$5.6 million from NT$21.4 million, and total operating expenses declined 56.2% from the prior-year period to NT$16.9 million from NT$38.7 million.

Reported net income totaled a loss of NT$7.8 million, or a loss of 8 cents per share, compared to a loss of NT$29.6 million, or a loss of 35 cents per share, in the prior-year period.

As of Aug. 15, US$1 was equivalent to NT$31.33.