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Acme Electronics Q1 loss widens 74.8% YOY

Acme Electronics Corp. said its first-quarter normalized net income was a loss of 33 Taiwan cents per share, compared with a loss of 19 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$60.7 million, compared with a loss of NT$34.7 million in the year-earlier period.

The normalized profit margin fell to negative 10.6% from negative 5.5% in the year-earlier period.

Total revenue declined 9.7% on an annual basis to NT$571.1 million from NT$632.4 million, and total operating expenses declined from the prior-year period to NT$674.4 million from NT$705.6 million.

Reported net income totaled a loss of NT$109.0 million, or a loss of 60 cents per share, compared to a loss of NT$61.9 million, or a loss of 34 cents per share, in the year-earlier period.

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