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C.T.I. Traffic Industries swings to loss in Q1

C.T.I. Traffic Industries Co. Ltd. said its first-quarter normalized net income was a loss of NT$215,750, compared with income of NT$3.2 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 fell to negative 0.2% from 3.5% in the year-earlier period.

Total revenue rose 6.2% on an annual basis to NT$99.4 million from NT$93.5 million, and total operating expenses rose 9.8% from the prior-year period to NT$95.0 million from NT$86.6 million.

Reported net income declined 90.9% year over year to NT$396,550, or 1 cents per share, from NT$4.4 million, or 11 cents per share.

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