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UVAT Technology Q1 loss narrows YOY

UVAT Technology Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 48 Taiwan cents per share, compared with a loss of 59 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$14.4 million, compared with a loss of NT$16.2 million in the year-earlier period.

The normalized profit margin climbed to negative 11.4% from negative 14.6% in the year-earlier period.

Total revenue climbed 13.5% year over year to NT$126.0 million from NT$111.0 million, and total operating expenses climbed 10.6% from the prior-year period to NT$149.2 million from NT$135.0 million.

Reported net income totaled a loss of NT$24.0 million, or a loss of 80 cents per share, compared to a loss of NT$25.9 million, or a loss of 95 cents per share, in the year-earlier period.

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