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Sysgration Q1 loss narrows YOY

Sysgration Ltd. said its first-quarter normalized net income amounted to a loss of 1 Taiwan cents per share, compared with a loss of 28 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$2.3 million, compared with a loss of NT$53.1 million in the year-earlier period.

The normalized profit margin climbed to negative 0.5% from negative 12.6% in the year-earlier period.

Total revenue rose 15.7% on an annual basis to NT$488.0 million from NT$421.6 million, and total operating expenses increased year over year to NT$521.4 million from NT$508.4 million.

Reported net income totaled NT$410,320, or 0 cents per share, compared to a loss of NT$80.5 million, or a loss of 42 cents per share, in the year-earlier period.

As of May 13, US$1 was equivalent to NT$32.68.