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ADO Optronics Q1 loss narrows YOY

ADO Optronics Corp. said its first-quarter normalized net income was a loss of 16 Taiwan cents per share, compared with a loss of 22 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$8.4 million, compared with a loss of NT$12.2 million in the year-earlier period.

The normalized profit margin climbed to negative 5.3% from negative 6.2% in the year-earlier period.

Total revenue decreased 18.8% on an annual basis to NT$158.8 million from NT$195.6 million, and total operating expenses fell 19.1% year over year to NT$185.7 million from NT$229.6 million.

Reported net income came to a loss of NT$12.4 million, or a loss of 24 cents per share, compared to a loss of NT$19.8 million, or a loss of 37 cents per share, in the prior-year period.

As of May 17, US$1 was equivalent to NT$32.60.