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Para Light Electronics Q1 loss narrows YOY

Para Light Electronics Co. Ltd. said its first-quarter normalized net income came to a loss of 11 Taiwan cents per share, compared with a loss of 15 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$10.6 million, compared with a loss of NT$14.4 million in the prior-year period.

The normalized profit margin rose to negative 4.3% from negative 5.2% in the year-earlier period.

Total revenue declined 12.2% on an annual basis to NT$244.7 million from NT$278.6 million, and total operating expenses decreased 15.5% on an annual basis to NT$250.6 million from NT$296.6 million.

Reported net income totaled a loss of NT$16.6 million, or a loss of 18 cents per share, compared to a loss of NT$19.6 million, or a loss of 21 cents per share, in the prior-year period.

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