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Holux Technology Q1 loss narrows YOY

Holux Technology Inc. said its normalized net income for the first quarter came to a loss of 22 Taiwan cents per share, compared with a loss of 32 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$7.8 million, compared with a loss of NT$11.2 million in the prior-year period.

The normalized profit margin climbed to negative 5.1% from negative 6.2% in the year-earlier period.

Total revenue declined 14.7% on an annual basis to NT$154.4 million from NT$180.9 million, and total operating expenses fell 17.1% on an annual basis to NT$167.6 million from NT$202.2 million.

Reported net income came to a loss of NT$12.6 million, or a loss of 35 cents per share, compared to a loss of NT$18.1 million, or a loss of 51 cents per share, in the year-earlier period.

As of May 15, US$1 was equivalent to NT$30.44.