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Chip Hope Q1 loss narrows YOY

Chip Hope Co. Ltd said its normalized net income for the first quarter came to a loss of 12 Taiwan cents per share, compared with a loss of 34 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$6.4 million, compared with a loss of NT$18.5 million in the year-earlier period.

The normalized profit margin rose to negative 0.9% from negative 4.6% in the year-earlier period.

Total revenue grew 76.6% year over year to NT$705.9 million from NT$399.6 million, and total operating expenses grew 69.3% year over year to NT$715.7 million from NT$422.7 million.

Reported net income totaled a loss of NT$10.8 million, or a loss of 20 cents per share, compared to a loss of NT$29.7 million, or a loss of 55 cents per share, in the year-earlier period.

As of May 16, US$1 was equivalent to NT$32.63.