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New Palace International Q2 loss narrows YOY

New Palace International Co. Ltd. said its normalized net income for the second quarter amounted to a loss of 8 Taiwan cents per share, compared with a loss of 8 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$5.6 million, compared with a loss of NT$5.7 million in the prior-year period.

The normalized profit margin rose to negative 1.5% from negative 1.6% in the year-earlier period.

Total revenue increased on an annual basis to NT$374.8 million from NT$368.2 million, and total operating expenses declined from the prior-year period to NT$390.9 million from NT$403.6 million.

Reported net income totaled a loss of NT$14.1 million, or a loss of 21 cents per share, compared to a loss of NT$33.5 million, or a loss of 50 cents per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to NT$31.65.