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Amigo Technology Q1 loss narrows YOY

Amigo Technology Inc. said its first-quarter normalized net income amounted to a loss of 8 Taiwan cents per share, compared with a loss of 33 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$1.8 million, compared with a loss of NT$7.8 million in the prior-year period.

The normalized profit margin climbed to negative 3.5% from negative 31.4% in the year-earlier period.

Total revenue increased year over year to NT$51.6 million from NT$24.8 million, and total operating expenses climbed 43.6% from the prior-year period to NT$53.3 million from NT$37.1 million.

Reported net income totaled NT$1.8 million, or 8 cents per share, compared to a loss of NT$12.3 million, or a loss of 52 cents per share, in the year-earlier period.

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