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EPISTAR swings to loss in Q1

EPISTAR Corp. said its first-quarter normalized net income was a loss of 89 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 99 cents per share.

The per-share result swung to a loss from the prior-year profit of 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$947.5 million, compared with income of NT$438.9 million in the year-earlier period.

The normalized profit margin declined to negative 15.6% from 6.6% in the year-earlier period.

Total revenue decreased 8.8% year over year to NT$6.06 billion from NT$6.65 billion, and total operating expenses climbed 14.1% from the prior-year period to NT$7.50 billion from NT$6.57 billion.

Reported net income came to a loss of NT$1.64 billion, or a loss of NT$1.54 per share, compared to income of NT$426.8 million, or 35 cents per share, in the year-earlier period.

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