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Pacific Image Electronics Q1 loss narrows YOY

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Pacific Image Electronics Q1 loss narrows YOY

Pacific Image Electronics Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 8 Taiwan cents per share, compared with a loss of 25 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$1.7 million, compared with a loss of NT$5.3 million in the year-earlier period.

The normalized profit margin climbed to negative 5.9% from negative 27.9% in the year-earlier period.

Total revenue climbed 50.4% year over year to NT$28.4 million from NT$18.9 million, and total operating expenses climbed 13.4% on an annual basis to NT$30.1 million from NT$26.5 million.

Reported net income totaled a loss of NT$4.3 million, or a loss of 20 cents per share, compared to a loss of NT$9.1 million, or a loss of 43 cents per share, in the prior-year period.

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