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Pan-International Industrial Q1 loss narrows YOY

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Pan-International Industrial Q1 loss narrows YOY

Pan-International Industrial Corp. said its first-quarter normalized net income amounted to a loss of 2 Taiwan cents per share, compared with a loss of 13 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$10.4 million, compared with a loss of NT$65.2 million in the prior-year period.

The normalized profit margin increased to negative 0.3% from negative 1.9% in the year-earlier period.

Total revenue declined on an annual basis to NT$3.33 billion from NT$3.38 billion, and total operating expenses decreased 7.4% on an annual basis to NT$3.25 billion from NT$3.51 billion.

Reported net income totaled a loss of NT$20.7 million, or a loss of 4 cents per share, compared to a loss of NT$112.9 million, or a loss of 22 cents per share, in the year-earlier period.

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