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Princeton Technology Q1 loss narrows YOY

Princeton Technology Corp. said its first-quarter normalized net income was a loss of 5 Taiwan cents per share, compared with a loss of 11 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$9.1 million, compared with a loss of NT$20.2 million in the year-earlier period.

The normalized profit margin climbed to negative 2.8% from negative 6.8% in the year-earlier period.

Total revenue increased 9.8% on an annual basis to NT$326.7 million from NT$297.6 million, and total operating expenses increased from the prior-year period to NT$344.0 million from NT$332.6 million.

Reported net income came to NT$1.8 million, or 1 cents per share, compared to a loss of NT$48.9 million, or a loss of 27 cents per share, in the year-earlier period.

As of May 10, US$1 was equivalent to NT$32.55.