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Epileds Technologies swings to loss in Q1

Epileds Technologies Inc. said its first-quarter normalized net income amounted to a loss of 15 Taiwan cents per share, compared with 10 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$15.5 million, compared with income of NT$11.8 million in the prior-year period.

The normalized profit margin fell to negative 12.2% from 3.1% in the year-earlier period.

Total revenue decreased 27.0% year over year to NT$274.8 million from NT$376.6 million, and total operating expenses decreased 18.2% on an annual basis to NT$289.3 million from NT$353.6 million.

Reported net income came to a loss of NT$21.1 million, or a loss of 21 cents per share, compared to income of NT$17.6 million, or 15 cents per share, in the year-earlier period.

As of May 5, US$1 was equivalent to NT$32.39.