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Unitel High Technology Q1 loss widens 61.3% YOY

Unitel High Technology Corp. said its first-quarter normalized net income was a loss of 60 Taiwan cents per share, compared with a loss of 35 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$18.3 million, compared with a loss of NT$11.3 million in the year-earlier period.

The normalized profit margin declined to negative 17.3% from negative 6.6% in the year-earlier period.

Total revenue decreased 39.6% year over year to NT$104.2 million from NT$172.6 million, and total operating expenses declined 30.4% year over year to NT$135.2 million from NT$194.4 million.

Reported net income came to a loss of NT$27.2 million, or a loss of 90 cents per share, compared to a loss of NT$7.1 million, or a loss of 22 cents per share, in the prior-year period.

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