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ShineMore Technology Materials Q1 loss narrows YOY

ShineMore Technology Materials Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 9 Taiwan cents per share, compared with a loss of 15 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$6.8 million, compared with a loss of NT$11.2 million in the year-earlier period.

The normalized profit margin rose to negative 4.8% from negative 8.2% in the year-earlier period.

Total revenue climbed year over year to NT$141.6 million from NT$136.5 million, and total operating expenses declined from the prior-year period to NT$152.6 million from NT$154.5 million.

Reported net income totaled a loss of NT$11.0 million, or a loss of 14 cents per share, compared to a loss of NT$18.4 million, or a loss of 24 cents per share, in the year-earlier period.

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