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Ene Technology Q1 loss narrows YOY

Ene Technology Inc. said its normalized net income for the first quarter came to a loss of 20 Taiwan cents per share, compared with a loss of 41 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$14.7 million, compared with a loss of NT$30.9 million in the year-earlier period.

The normalized profit margin increased to negative 12.5% from negative 27.4% in the year-earlier period.

Total revenue increased on an annual basis to NT$117.2 million from NT$112.7 million, and total operating expenses decreased 10.6% from the prior-year period to NT$141.5 million from NT$158.3 million.

Reported net income totaled a loss of NT$23.5 million, or a loss of 31 cents per share, compared to a loss of NT$48.9 million, or a loss of 65 cents per share, in the prior-year period.

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