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Action Electronics Q1 loss narrows YOY

Action Electronics Co. Ltd. said its first-quarter normalized net income amounted to a loss of 8 Taiwan cents per share, compared with a loss of 10 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$21.1 million, compared with a loss of NT$27.4 million in the prior-year period.

The normalized profit margin rose to negative 2.1% from negative 2.4% in the year-earlier period.

Total revenue decreased 13.4% on an annual basis to NT$1.00 billion from NT$1.16 billion, and total operating expenses declined 15.9% from the prior-year period to NT$1.04 billion from NT$1.23 billion.

Reported net income totaled a loss of NT$49.0 million, or a loss of 18 cents per share, compared to a loss of NT$49.7 million, or a loss of 18 cents per share, in the year-earlier period.

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