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Wayi Q1 loss narrows YOY

Wayi International Digital Entertainment Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 11 Taiwan cents per share, compared with a loss of 68 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$3.2 million, compared with a loss of NT$20.0 million in the prior-year period.

The normalized profit margin increased to negative 3.3% from negative 18.0% in the year-earlier period.

Total revenue declined 14.0% on an annual basis to NT$95.7 million from NT$111.3 million, and total operating expenses fell 31.9% on an annual basis to NT$96.5 million from NT$141.7 million.

Reported net income came to a loss of NT$4.8 million, or a loss of 16 cents per share, compared to a loss of NT$32.0 million, or a loss of NT$1.09 per share, in the prior-year period.

As of May 12, US$1 was equivalent to NT$32.56.