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Wha Yu Industrial Q1 loss widens YOY

Wha Yu Industrial Co. Ltd. said its first-quarter normalized net income came to a loss of 20 Taiwan cents per share, compared with a loss of 4 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$23.1 million, compared with a loss of NT$4.6 million in the prior-year period.

The normalized profit margin declined to negative 4.2% from negative 0.9% in the year-earlier period.

Total revenue increased 11.0% on an annual basis to NT$544.4 million from NT$490.5 million, and total operating expenses grew 15.6% on an annual basis to NT$578.2 million from NT$500.4 million.

Reported net income came to a loss of NT$37.5 million, or a loss of 32 cents per share, compared to a loss of NT$8.3 million, or a loss of 7 cents per share, in the year-earlier period.

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