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C-Tech United Q1 loss widens 69.9% YOY

C-Tech United Corp. said its first-quarter normalized net income came to a loss of 14 Taiwan cents per share, compared with a loss of 8 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$7.2 million, compared with a loss of NT$4.3 million in the year-earlier period.

The normalized profit margin declined to negative 3.9% from negative 2.6% in the year-earlier period.

Total revenue grew 15.3% on an annual basis to NT$185.4 million from NT$160.8 million, and total operating expenses climbed 16.9% year over year to NT$201.6 million from NT$172.4 million.

Reported net income totaled NT$1.5 million, or 3 cents per share, compared to a loss of NT$8.0 million, or a loss of 16 cents per share, in the year-earlier period.

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