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AIPTEK International Q1 loss narrows YOY

AIPTEK International Inc. said its normalized net income for the first quarter came to a loss of 5 Taiwan cents per share, compared with a loss of 29 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$4.6 million, compared with a loss of NT$18.3 million in the year-earlier period.

The normalized profit margin increased to negative 13.0% from negative 79.0% in the year-earlier period.

Total revenue grew 51.0% on an annual basis to NT$34.9 million from NT$23.1 million, and total operating expenses declined 25.5% on an annual basis to NT$39.9 million from NT$53.6 million.

Reported net income totaled a loss of NT$9.0 million, or a loss of 11 cents per share, compared to a loss of NT$29.5 million, or a loss of 46 cents per share, in the prior-year period.

As of May 15, US$1 was equivalent to NT$30.44.