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Egis Technology Q1 loss widens 12.9% YOY

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Egis Technology Q1 loss widens 12.9% YOY

Egis Technology Inc. said its normalized net income for the first quarter was a loss of 36 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 59 cents per share.

The per-share loss increased year over year from 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$24.5 million, compared with a loss of NT$21.7 million in the prior-year period.

The normalized profit margin rose to negative 23.1% from negative 37.0% in the year-earlier period.

Total revenue rose 80.8% year over year to NT$106.2 million from NT$58.7 million, and total operating expenses climbed 51.3% year over year to NT$142.4 million from NT$94.1 million.

Reported net income came to a loss of NT$55.7 million, or a loss of 81 cents per share, compared to a loss of NT$34.7 million, or a loss of 56 cents per share, in the prior-year period.

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