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ATW Technology Q1 loss narrows YOY

ATW Technology Inc. said its first-quarter normalized net income was a loss of 2 Taiwan cents per share, compared with a loss of 9 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$505,000, compared with a loss of NT$1.7 million in the prior-year period.

The normalized profit margin increased to negative 2.2% from negative 8.5% in the year-earlier period.

Total revenue increased 12.7% on an annual basis to NT$22.5 million from NT$20.0 million, and total operating expenses grew on an annual basis to NT$26.3 million from NT$25.5 million.

Reported net income totaled NT$19.2 million, or 72 cents per share, compared to a loss of NT$3.1 million, or a loss of 17 cents per share, in the prior-year period.

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