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AIPTEK International Q1 loss narrows YOY

AIPTEK International Inc. said its first-quarter normalized net income was a loss of 4 Taiwan cents per share, compared with a loss of 5 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$3.9 million, compared with a loss of NT$4.5 million in the year-earlier period.

The normalized profit margin declined to negative 38.2% from negative 13.0% in the year-earlier period.

Total revenue declined 70.8% year over year to NT$10.2 million from NT$34.9 million, and total operating expenses declined 58.6% on an annual basis to NT$16.6 million from NT$39.9 million.

Reported net income totaled a loss of NT$6.2 million, or a loss of 7 cents per share, compared to a loss of NT$9.0 million, or a loss of 11 cents per share, in the year-earlier period.

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