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Hi-Light Tek Q1 loss narrows YOY

Hi-Light Tek Co. Ltd. said its normalized net income for the first quarter came to a loss of 11 Taiwan cents per share, compared with a loss of 12 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$5.4 million, compared with a loss of NT$5.5 million in the year-earlier period.

The normalized profit margin dropped to negative 1.9% from negative 1.3% in the year-earlier period.

Total revenue fell 31.7% year over year to NT$283.1 million from NT$414.6 million, and total operating expenses decreased 32.0% from the prior-year period to NT$290.2 million from NT$426.5 million.

Reported net income came to a loss of NT$7.5 million, or a loss of 16 cents per share, compared to a loss of NT$6.6 million, or a loss of 14 cents per share, in the year-earlier period.

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