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Walton Advanced Engineering Q1 loss widens YOY

Walton Advanced Engineering Inc. said its first-quarter normalized net income came to a loss of 11 Taiwan cents per share, compared with a loss of 5 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$54.9 million, compared with a loss of NT$26.6 million in the year-earlier period.

The normalized profit margin fell to negative 2.9% from negative 1.4% in the year-earlier period.

Total revenue declined year over year to NT$1.87 billion from NT$1.92 billion, and total operating expenses totaled NT$1.91 billion, compared with NT$1.92 billion in the year-earlier period.

Reported net income totaled a loss of NT$75.2 million, or a loss of 16 cents per share, compared to a loss of NT$46.7 million, or a loss of 9 cents per share, in the year-earlier period.

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