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Altek swings to loss in Q2

Altek Corp. said its second-quarter normalized net income amounted to a loss of NT$106,630, compared with income of NT$37.7 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.0% from 1.2% in the year-earlier period.

Total revenue fell 7.8% on an annual basis to NT$2.79 billion from NT$3.02 billion, and total operating expenses fell 6.4% on an annual basis to NT$2.79 billion from NT$2.98 billion.

Reported net income declined 93.5% from the prior-year period to NT$2.7 million, or 0 cents per share, from NT$40.7 million, or 15 cents per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.