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AVerMedia Technologies Q3 loss widens 34.6% YOY

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AVerMedia Technologies Q3 loss widens 34.6% YOY

AVerMedia Technologies Inc. said its third-quarter normalized net income amounted to a loss of 17 Taiwan cents per share, compared with a loss of 13 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$33.2 million, compared with a loss of NT$24.7 million in the prior-year period.

The normalized profit margin declined to negative 5.3% from negative 3.5% in the year-earlier period.

Total revenue fell 13.0% year over year to NT$621.7 million from NT$714.9 million, and total operating expenses fell 8.1% from the prior-year period to NT$688.9 million from NT$749.7 million.

Reported net income totaled a loss of NT$52.5 million, or a loss of 27 cents per share, compared to a loss of NT$39.3 million, or a loss of 21 cents per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to NT$32.73.