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Tradetool Auto swings to loss in Q1

Tradetool Auto Co. Ltd. said its first-quarter normalized net income was a loss of 4 Taiwan cents per share, compared with 19 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$3.6 million, compared with income of NT$11.2 million in the prior-year period.

The normalized profit margin fell to negative 4.3% from 8.5% in the year-earlier period.

Total revenue decreased 36.7% on an annual basis to NT$84.2 million from NT$132.9 million, and total operating expenses fell 22.6% on an annual basis to NT$89.7 million from NT$116.0 million.

Reported net income totaled a loss of NT$1.5 million, or a loss of 2 cents per share, compared to income of NT$14.5 million, or 24 cents per share, in the year-earlier period.

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