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Hwa Woei Laminate Q1 loss narrows YOY

Sino Tactful Co. Ltd. said its first-quarter normalized net income came to a loss of 8 Taiwan cents per share, compared with a loss of 13 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$7.8 million, compared with a loss of NT$12.2 million in the year-earlier period.

The normalized profit margin dropped to negative 154.5% from negative 28.4% in the year-earlier period.

Total revenue declined 88.2% on an annual basis to NT$5.1 million from NT$42.9 million, and total operating expenses decreased 71.5% year over year to NT$17.0 million from NT$59.6 million.

Reported net income came to NT$1.2 million, or 1 cents per share, compared to a loss of NT$23.5 million, or a loss of 24 cents per share, in the year-earlier period.

As of May 17, US$1 was equivalent to NT$32.60.