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Inventec Besta Q1 loss widens YOY

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Inventec Besta Q1 loss widens YOY

Inventec Besta Co. Ltd. said its first-quarter normalized net income was a loss of 28 Taiwan cents per share, compared with a loss of 9 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$17.5 million, compared with a loss of NT$5.6 million in the prior-year period.

The normalized profit margin fell to negative 4.4% from negative 0.6% in the year-earlier period.

Total revenue fell 56.9% on an annual basis to NT$382.5 million from NT$888.3 million, and total operating expenses declined 50.9% year over year to NT$419.9 million from NT$854.6 million.

Reported net income totaled a loss of NT$28.1 million, or a loss of 45 cents per share, compared to a loss of NT$15.5 million, or a loss of 25 cents per share, in the prior-year period.

As of May 14, US$1 was equivalent to NT$30.54.