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Action Electronics Q1 loss narrows YOY

Action Electronics Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 10 Taiwan cents per share, compared with a loss of 16 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$26.5 million, compared with a loss of NT$44.2 million in the year-earlier period.

The normalized profit margin increased to negative 2.4% from negative 4.1% in the year-earlier period.

Total revenue increased 7.9% on an annual basis to NT$1.16 billion from NT$1.07 billion, and total operating expenses rose on an annual basis to NT$1.23 billion from NT$1.18 billion.

Reported net income came to a loss of NT$49.7 million, or a loss of 18 cents per share, compared to a loss of NT$79.1 million, or a loss of 29 cents per share, in the year-earlier period.

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