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Airlux Electrical Q1 loss widens 73.4% YOY

Airlux Electrical Co. Ltd. said its normalized net income for the first quarter came to a loss of 35 Taiwan cents per share, compared with a loss of 20 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$16.6 million, compared with a loss of NT$9.5 million in the prior-year period.

The normalized profit margin fell to negative 8.9% from negative 4.4% in the year-earlier period.

Total revenue fell 13.7% on an annual basis to NT$185.9 million from NT$215.4 million, and total operating expenses declined 11.4% on an annual basis to NT$208.9 million from NT$235.9 million.

Reported net income totaled a loss of NT$22.0 million, or a loss of 46 cents per share, compared to a loss of NT$12.7 million, or a loss of 26 cents per share, in the year-earlier period.

As of May 15, US$1 was equivalent to NT$30.44.