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Uniplus Electronics Q1 loss narrows YOY

Uniplus Electronics Co. Ltd. said its normalized net income for the first quarter came to a loss of 15 Taiwan cents per share, compared with a loss of 46 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$18.2 million, compared with a loss of NT$54.6 million in the prior-year period.

The normalized profit margin climbed to negative 13.9% from negative 19.5% in the year-earlier period.

Total revenue decreased 53.3% on an annual basis to NT$130.7 million from NT$279.7 million, and total operating expenses fell 53.1% on an annual basis to NT$167.0 million from NT$355.9 million.

Reported net income came to NT$150.3 million, or NT$1.27 per share, compared to a loss of NT$86.8 million, or a loss of 73 cents per share, in the year-earlier period.

As of May 16, US$1 was equivalent to NT$32.63.